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15 min ago
Calls for transparency as pay gaps increase
There are growing calls for companies to be more transparent about the salary gaps between the lowest-paid employees and senior management.
JOHANNESBURG - There are growing calls for companies to be more transparent about the salary gaps between the lowest-paid employees and senior management.
Just Share has calculated the vertical wage gap for JSE-listed companies including Woolworths, Standard Bank, Shoprite, Nedbank, the JSE and Absa.
Among these companies, the largest wage gap is at Shoprite, where the CEO in 2022 earned 1,081 times more than a worker earning the company’s internal minimum wage of approximately R58,700.
The smallest gap is at the JSE, where the CEO in 2022 earned 49 times more than the disclosed lowest grade total guaranteed pay of R419,585.
Currently in South Africa, pay gap disclosure is not yet a legal requirement.
But according to Just Share, pay gap disclosures are necessary as they give insight into labour market inequality and the state of pay disparities.