Aug the 1st
By Business Report
Posted In: SME's
The fallout from the financial crisis of 2008 has led to significant calls for both the reform of the way executive remuneration is calculated and increased regulation to ensure that businesses adhere to agreed guidelines. Poor corporate performance, business and financial scandals, falling share values and increased shareholder activism combined with a negative public opinion of the real value of senior executives in the private sector and public corporations have raised the temperature of the debate.
In the light of this pertinent issue, Ius Laboris, the world’s leading alliance of Labour, Employment & Pensions law firms, has launched its Guide to Restrictions on Executive Pay.
The Ius Laboris Guide covers 22 countries across Europe, the Americas and Asia in addition to the two overarching organisations closely involved in economic policy - the EU and G20. The Guide aims to provide employers with an overview of law and guidance some of which have been issued following the credit crunch as well as worldwide trends relating to executive pay.
This Guide covers issues such as remuneration, bonus, equity vesting, stock options, shares and shareholding requirements, pensions, severance pay and disclosure requirements.
Ius Laboris Executive Director, Sam Everatt, said: “The issue of Executive compensation has been the subject of much public debate worldwide in recent years. Almost five years since the crisis began, one might legitimately ask what, if anything, has actually been done to control pay awards to executives made by banks and financial institutions, or indeed other private and public sector organisations? We hope that this Guide acts as a reliable source and helps to address employers’ questions and concerns in this particularly sensitive area of human resource management as well as public policy.”
In addition to the Executive Pay Guide, Ius Laboris has recently launched two additional International Practice Guides: a Guide to Sexual Harassment Prevention and a Guide to Discrimination Law in the Americas.