The High Pay Centre report argues that bosses of big firms earning such huge sums makes it harder to fund pay increases for the wider UK workforce.
The think tank is calling for reforms such as requiring companies to include a minimum of two elected workforce representatives on the remuneration committees that set pay.
It is also pushing for companies to provide much more detailed pay disclosure for top earners outside of the C-suite, as well as how much their lowest-paid workers pocket. This would enable far more realistic pay negotiations within individual companies, as well as encourage a wider debate as to fair pay in wider society.
Wage restraint
On the other hand, FTSE 100 bosses are practising what they preach when it comes to wage restraint – the pay of chief executives within the UK’s largest companies increased by just 2.2% in 2023 compared with the expected 3% pay rise employers expect to pay to most workers this…
