EDITORIAL | New bill a much-needed antidote to tense employer-employee relations
Pay transparency should foster the trust needed for engagements to succeed under Companies bill
The publication this week of the Companies Amendment Bill is a welcome step in the quest to promote transparency and better relations between employers and employees in an economy where distrust has historically run deep.
The bill, approved by cabinet, aims, among other things, to reduce the regulatory regime on businesses, tighten anti-money laundering gaps, strengthen the disclosure requirements and enhance shareholder power in a company.
But it is on the question of executive remuneration that the proposed change holds promise for the improvement of the relationship between key economic stakeholders — business and labour. The legislation will mandate the disclosure of earnings of top executives, such as CEOs and CFOs. ..