Engineering News reports that according to professional services firm PwC, the concept of fair and responsible remuneration is gaining traction in SA.
Companies are apparently beginning to embrace this, but more needs to be done to turn this into a reality, including raising awareness nationally. Evidence of this acceptance is found in some companies having even adopted and disclosed a living wage above the national minimum wage. These findings are outlined in the eleventh edition of PwC’s ‘Executive directors: Practices and remuneration trends’ report, released on Tuesday. The report focuses on the role of the CEO and what factors companies should consider when determining CEO pay. It also explores the role of the CEO in setting the remuneration strategy of the organisation. Moreover, the report focuses on gender parity, diversity and ethics of pay. Key findings indicate that 29.5% of executive directors are black African, compared with 40% that are white; 3.3% of CEOs at JSE-listed companies are women; and the median pay for CEOs in 2018 across all sectors was R5.4m, compared with R5.2m for 2017. A positive aspect is that remuneration committee chairs are embracing investor expectations around shareholder engagement and regular training. In respect of gender parity, the report shows that there is no sector in which female executive directors are paid more than men.
- Read the full original of the informative report on the above at Engineering News
- See too, Only a minute number of women are chief executives, report finds, at Business Report
Get other news reports at the SA Labour News home page