South Africa: Corporate Pushback Against Wage Gap Is an Attempt By Business Leaders to Hide an Inconvenient Truth

analysis

Khaya Sithole is a chartered accountant and host of Power Business. Tracey Davies is the executive director of non-profit shareholder activism organisation Just Share.

In response to proposed amendments that aim to improve transparency on wage inequality, business has deployed a barrage of conjecture-based scare-mongering to whip up opposition to the legislation.

It is, perhaps, a universal truth that the rich will express great concern about the need to tackle inequality, as long as they remain untouched by any measure proposed to reduce it.

This truth has been on vibrant display since the publication on 1 October of the Companies Amendment Bill for public comment. The stream of objections from corporate SA relates mainly to the bill's long-overdue provisions on wage gap disclosure, especially in relation to disclosing the gap between the highest and lowest paid employees.

Few corporate leaders who engage honestly would deny that the nature of inequality in this country is unrivalled in scale and depth and that tackling it should be our most urgent priority. Wage gap disclosure can help to create awareness of the prevalence and persistence of income and wealth inequality and improve our understanding of how they contribute to the wider manifestations of...

AllAfrica publishes around 700 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X