The CIPD and High Pay Centre have dubbed 4th January Fat Cat Day. According to the pair’s combined analysis, it indicates the amount of time it takes for the average FTSE 100 CEO to earn an employee’s yearly wage.
Many will still be celebrating the end of 2017, a year filled with tumultuous and confusing economic statistics. But for all the uncertainty and changes that came about, we enter 2018 more stable than we’d like to think.
Charlie Mullins takes a dive into the current productivity puzzle Britain is trying to solve, touching on training, wages and the new snowflake generation.
The day in which women stop being paid – ironically termed Equal Pay Day – is just around the corner. It will undoubtedly flag ways in which employers can drive progress, but the key role corporate culture can play cannot be ignored.
UK employees were willing to leave their roles for a ten per cent pay rise, compared to a European average of 12 per cent.
Brits are particularly savvy when it comes to job offer negotiations, so bosses should brace for bartering, as over half of jobseekers have fought for changes to role opportunities during interview stage.
The national employment rate is climbing, with only 4.3 per cent of Brits without a job. However, this may not be a cause for celebration.
The Employment Appeal Tribunal has made a decision on the “Asda equal pay case” – and it paves the way for more than 10,000 claims to proceed.
While much is still being said about the BBC’s differing wages for men and women, another type of pay gap is taking centre stage. Government plans will soon see companies owned by shareholders highlight how much chief executives make in comparison to their average worker.
When it comes to pay gaps, gender pay has filled the headlines over recent weeks, including the large discrepancies in pay seen at organisations such as the BBC.
As was suggested by Mariano Mamertino, EMEA economist of Indeed: “Britain’s employment picture is starting to look more anomaly than achievement.” We unveil further details on the issue in our July 2017 economic statistics roundup.
As a CEO who very publicly shed light on salaries at his own company, Charlie Mullins believes wage transparency is a must for any British business.