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Summitt TV - The Pay Gap in South Africa is narrowing
http://www.summit.co.za/current-show/face2face/20110715.html
According to a P-E Corporate Services study, the pay gap in South Africa is narrowing. It shows CEO's earn up to 52 times more than their junior staff. That's the lowest worker-boss pay differential since 2004. In 2008 the gap peaked at 58 times. That's for companies with revenue up to 500 million rand. Martin Wescott is CEO at P E Corporate Services discuss this on Sumitt TV.
PEC Corporate Services News
Performance Management With Situational Leadership®
13 Feb 2012
Performance Management is here to stay. It has become a best practice in the field of people management. Most organisations are busy implementing Performance Management many have already done so. In South Africa legislation now requires that all government departments, provincial and local governing bodies as well as private sector organisations implement a Performance Management System (PMS).
Rethink executive pay structures: IoDSA
26 Jan 2012
In view of the global financial crisis, executive pay has become a hot issue around the world, says Ansie Ramalho, CE of the Institute of Directors in Southern Africa (IoDSA).
Read full news »Business joins call for lower executive pay in SA
26 Jan 2012
Institute of Directors Southern Africa says remuneration policies have to be improved to reward managers correctly
Read full news »
Freezing bosses' salary hikes 'impossible'
26 Jan 2012
Executive salary freezes make sense in theory but will be "enormously impossible to implement", according to Robert Schiere, political science professor at the University of Cape Town.
Read full news »
Business Day - CEO versus Staff Pay Gap Narrows
15 July 2011
Martin Westcott speaks to Business Day on Executive pay. "Pay for executives in medium to large organisations is currently rising at an annual rate of around 8%. It has trailed average increases for semi skilled, skilled and bargaining unit categories for the past two to three years" He believes that trade unions demanding double-digit percentage pay increases should not be fixating on increases paid to executives in the country's top 40 companies listed on the JSE. Click here to read more
Business Day - Pressure for Pay Disclosure
15 July 2011
Martin Westcott speaks to the Business Day on why there is increasing pressure on South African companies to disclose the executive pay gap within their organisations in teh wake of growing employee dissatisfaction and mouting industrial action. Click here to read more
Business Day - Permanent, temp employment falls
12 July 2011
Martin Westcott speaks to the Business Day about how permanent and remporary employment drops for the second month whilst high-skilled management and professional services shoots up. Click here to read more
Executive Pay interview on The Money Show 702 11 July 2011
11 July 2011
Martin Westcott , CEO of P E Corporate Services speaks on The 702 Money Show about Executive Pay trends. Click here to listen to the discussion
Sunday Times - Q & A: Pay Scales Tip Worker's Way
26 June 2011
Martin Westcott speaks to Margaret Harris about remuneration in business. Click here to read more
Sunday Times - Executive Pay :Tough Times hit SA Execs' Incentives
12 Feb 2011
Martin Westcott speaks to the Sunday Times about South African executive pay. Whilst SA executives continue to earn reasonably well in comparison to ther international counterparts, there have been changes to the granting of incentives following the recession. The proportions of incentive to variable pay package has dropped in the past couple of years, but remains a healthy proportion of the total executive package. Click here to read more
Business Day - Labour Law changes in South Africa will 'buck the international trend'
21 Dec 2010
Martin Westcott speaks to the Business Day on how recent Labour Law changes in South Africa would 'buck the international trend' The draft labour legislation will go against international trends and add to the rigidity of the labour market.
He was commenting on a proposed amendment to the Labour Relations Act that will prohibit employers from hiring workers on temporary contracts indefinitely if their work is of a permanent nature. Click here to read more
Business Day - Remuneration - Executive Pay
15 Dec 2010
There is a view that professionals in SA earn too much and couldn�™t command the same purchasing power elsewhere. Empirically, whether SA professionals do earn too much is difficult to prove. Martin Westcott, managing director of PE Corporate Services, a Johannesburg remuneration consultancy, says international salary surveys that compare similar levels of responsibility don�™t show it. A mid level professional, such as an accountant or engineer, with five to 10 years of experience, earns the median (the middle of the range) R650000. The same professional in the US, says Westcott, earns US$135000 (R928000); in the UK £70000 (R756000); and in Germany �,� 115000 (R1,04m ), by simple currency conversion, without taking purchasing power parity into account. To read the entire article click here
Business Day - Executive Pay - SA Leads
15 Dec 2010
Something has gone very wrong in the way that executives are paid, says Business Leadership SA chairman Bobby Godsell.
The multi million annual packages, vastly swollen by share options and bonuses, have, over the past 20 years, caused huge escalations in the pay of chief executives and directors. Click here to read more
Fin24 - SA Bosses best off in the world
This is the finding of a report released this week by human resources company P-E Corporate Services, which analyses the latest global trends in remuneration and working conditions at more than 850 companies. The survey calculates the purchasing power of executives�™ net disposable income after essential expenses, tax and pension are taken into account. In last year�™s survey South African chief executives had already fared best in terms of the power of their disposable income �" but then they were only slightly ahead of their peers in countries like the US and Germany, said P-E Corporate Services managing director Martin Westcott. But this year�™s research shows that they are now doing far better than CEOs in the US, Europe, Australia and the rest of Africa. South Africa scored 100 points on the index, with its nearest competitor, Namibia, at 62.
Click here to read more
Business Day - SA Executives' income 'streets ahead' of their overseas peers
25 Nov 2010
SOUTH African executives�™ living standards and net disposable incomes are higher than those of most of their peers in the US, Europe, Australia and the rest of Africa, according to a report issued this week by P-E Corporate Services, a Johannes burg-based management consultancy.
The company analyses remuneration and working condition trends at more than 850 companies employing 1,5-million people.
"While last year was the first time since 1978 that our executives came top of the purchasing power of disposable income ladder, they were not far ahead of their peers in the US and Germany," said Martin Westcott, P-E Corporate Services MD. Click here to read more
PECS expands into Kwazulu Natal
Increasing demand for our remuneration advisory products and services has lead to PECS opening a dedicated branch in the Kwazulu Natal area. The branch has been established in a joint venture with Owen Adendorff Associates, at Owen Adendorff's offices in Pinetown. Owen Adendorff have represented PECS' remuneration surveys and consulting services in KZN since 1996.
PECS has appointed Sean Beazley as Regional Executive in charge of the KZN Remuneration Practice. Sean has over 25 years of depth experience in remuneration in both South Africa, with FSA-Contact and Deloittes and in Australia with Classified Salary Information Services, a specialist remuneration consultancy
Martin Westcott, MD of P E Corporate Services speaks to Metromedia SA about retaining scarce skills in the Eastern Cape
While Eastern Cape salaries lag behind those of the rest of the country, offering higher pay alone will not create the skills needed to develop the province�™s economy, according to international human resources strategist Martin Westcott. He told leading human resources practitioners at a Work Dynamics breakfast seminar in July, that education and skills training held the keys to sustainable job creation and making Eastern Cape remuneration packages competitive. Click here to read the full news article
Martin Westcott talks to the Business Day about the global need for skills
Xstrata CEO Mick Davis made some penetrating comments about the dire state of the mining sector in SA. SA stood out as the country that contrived to miss the bus. During the biggest resource boom in living memory, the mining industry in SA actually managed to decline by a percentage point. If it had matched the global average, 8bn would have been added to GDP and 45000 jobs would have been created, Davis suggested. Click here to read more.
Martin Westcott talks to the Business day about employment equity in South Africa
4 May 2010
MOST South African business owners believe that black economic empowerment (BEE) is vital for winning new business, according to a report issued by Grant Thornton yesterday.
Martin Westcott, MD of P-E Corporate Services, says employment equity is still a priority for South African companies. However, it has taken a back seat to the shortage of critical skills issue.
Click here to read more
Martin Westcott speaks to the Business Day about executive pay packages
SOUTH African executives do not receive �oeover-the-top” pay packages compared with their overseas counterparts, say corporate governance analysts. Executive compensation has come under fire again after Finance Minister Pravin Gordhan lashed out in Parliament this week at the generous pay packages of CEOs of large corporations and state-owned enterprises. He called for new parameters to be established. Martin Westcott says SA has one of the highest pay differentials in the world, compared with other jurisdictions. Gordhan is trying to create awareness around remuneration packages. Click here to read further.
SA Business following world trend away from unskilled labour
SOUTH African companies are following a global trend in reducing dependence on unskilled and semiskilled workers and increasingly focusing on attracting and retaining skilled staff. Martin Westcott said that skills profiles and requirements had undergone significant change that was reflected in the labour market. Click here to read more.
Martin Wescott speak to Margaret Harris of the Sunday Times about the value of clearly defined targets
7 May 2010
Find out more about what Martin Westcott�™s recommendations on how you can retain top staff. Remuneration and salary structuring are important in motivating and retaining skills. At P E Corporate Services, consultants are paid a market-related package plus the opportunity to earn incentive pay. Most recent surveys indicate that increases are exceeding rates of inflation by around 2%. Companies find themselves in a dilemma in this regard. Cost containment remains critical to competitive edge, yet it has become essential to reward employees who in many cases have had to accept minimal increases over the past year or two. Click here to read more.
Martin Westcott CEO of P E Corporate Services comments on Algoa FM about executive remuneration
Gordhan sparks brouhaha over executive pay
South African executives do not receive "over the top" pay packages campared with their overseas counterparts say corporate governance analysts. Read more...
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Click here to get up to date press releases and views from Martin Westcott, CEO of P E Corporate Services on retaining staff, skilled and unskilled labour and remuneration