New salary laws planned for South Africa could backfire spectacularly

[BusinessTech]

New salary laws planned for South Africa could backfire spectacularly

The Draft Companies Amendment Bill, recently published for public comment, will require companies to disclose the remuneration of all their employees.

 

[Drifter]

Very very very kahrk idea.

 

[dualmeister]

Stop interfering in businesses.
They already getting killed by BEE laws.

 

[Brenden_E]

Very very very kahrk idea.

I wanted to write something, but I believe this says all that needs to be said

 

[maxxis]

Yeah..... not a good idea at all. Imagine how morale in a company will drop when they find out what the boss earns. Nobody takes into account the hard work that is put in on executive level. 7 days a week, 20 hours a day while the low level staff do a normal 9 to 5 with little to now responsibilities.

I definitely don't want my fellow employees to know what I earn, nor do I want to know what they earn.

 

[pinball wizard]

e the low level staff do a normal 9 to 5 with little to now responsibilities.

Yikes. You describe me, and I have some people reporting to me.

 

[MikeaMatrix]

Disclose to whom?

 

[6spdmanual]

As if I needed any more embarrassment in my life

 

[RedViking]

Fun times.

 

[Wut]

Got used to salary information being public knowledge while living in Asia. So it won't bother me too much. But I can also understand how this could cause morale issues.

 

[ConfusedR]

And what on detail must it be disclosed on?
This could be invasion of privacy on employees as individuals.

 

[BuckRogers]

The ANC is not business friendly.
I don't think it's their intention, they are just too stupid to understand the implications of their decisions.

In the meantime companies are leaving SA and the JSE.

 

[3WA]

I'm okay with this, but only IF we are also allowed to flog everyone below the 41% marginal tax rate.

 

[Flash27]

It’s good to know. I knew of a secretary earning R750k pa. she was 40 years old. Wasn’t an executives secretary, normal departmental secretary. The ME had his own secretary. This was in 2011.
Very strange.

 

[Wut]

It’s good to know. I knew of a secretary earning R750k pa. she was 40 years old. Wasn’t an executives secretary, normal departmental secretary. The ME had his own secretary. This was in 2011.
Very strange.

Mistress bonus included as CTC?

 

[Illegal Allien]

Yeah..... not a good idea at all. Imagine how morale in a company will drop when they find out what the boss earns. Nobody takes into account the hard work that is put in on executive level. 7 days a week, 20 hours a day while the low level staff do a normal 9 to 5 with little to now responsibilities.

I definitely don't want my fellow employees to know what I earn, nor do I want to know what they earn.

Would be good to know that everyone at the same level doing same work gets similar remuneration. Some companies have such disparities that are simply too wide they are indefensible.

 

[Fulcrum29]

Divorce cases to be on the increase. Happy maintenance days!

 

[ShaunSA]

It’s good to know. I knew of a secretary earning R750k pa. she was 40 years old. Wasn’t an executives secretary, normal departmental secretary. The ME had his own secretary. This was in 2011.
Very strange.

Very naive... on your part lol

 

[Fulcrum29]

I am more curious about the public comment process on the bill. I doubt that the bill is received in good light. Would the ANC publish their salaries? I am also sure that there are many 'emerging' companies whom would keep their cats tight in the bag. I haven’t read this bill, it was only applicable to publicly listed companies, no?

 

[WollieVerstege]

This will just turn into another d!@# measuring contest for the guys at the top to see who gets the best salaries. Workers dont have the clout to do anything about executive pay and shareholders don't care as long as the companies make profits.