Webinar - A fair deal for workers: what will responsible business mean post COVID19?
Tuesday 9 June 2020
Katie Jacobs - Business Journalist
Duncan Brown - Independent Reward Adviser and Researcher; Visting Professor, University of Greenwich; Principal Associate, Institute of Employment Studies
Alice Martin - Labour Specialist at PIRC
The coronavirus pandemic and consequent economic shutdown represent an existential threat to many businesses. Yet at the same time, the crisis has highlighted the vital work done by some of the lowest-paid workers across the economy, and the wider painful economic divisions afflicting the UK. The poorest people are simultaneously more likely to be infected by the coronavirus and also less secure in their employment as a result of the shutdown.
Policymakers from all political perspectives have highlighted the need to rethink the way we value particular roles. Public tolerance for employers - particularly those who have received public money through the various Government support schemes - who are seen to pay poorly or treat their staff unfairly is likely to be low. With financial positions under incredible pressure, very high top pay will be seen as even more of an indulgence.
But will these hopefully temporary challenges result in permanent change to pay practices, employment culture and the management and governance of the way we work? And should they? This webinar will discuss how the crisis has affected thinking about pay, work and governance and consider the imperative for change.
Since 1 January 2020 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- COVID19 and corporate resilience
The pandemic is highlighting the deep flaws in the UK’s corporate governance system. Will this prompt listed companies to rethink their priorities? - A blog by Rachel Kay, a researcher at the High Pay Centre
- Executive Compensation: Covid-19—A “New Normal” Or Back To The “Old Normal” by 2022?
A guest blog from Iain Stark, international HR leader and reward expert, on the future of executive pay post COVID19.
- Re-thinking reward: interim High Pay Centre analysis of new pay ratio reports
Our analysis of the first 'pay ratio' reports finds some limitations to the disclosures, but also identifies the potential to raise pay for low earners through redistribution from those at the top