Excessive executive pay is not unnoticed - Ramaphosa
9 September 2016
Boksburg – It is not wise for businesses to go in the direction of awarding excessive executive pay, especially in periods of unemployment and an economic slump, said Deputy President Cyril Ramaphosa.
Ramaphosa was speaking at the 21st annual National Economic Development and Labour Council (Nedlac) summit held in Boksburg on Friday.
“Business should never think excessive pay rises do not go unnoticed by labour. They observe it and record that in the back of their minds,” said Ramaphosa.
He said that Nedlac was making progress in achieving labour market stability by working to reduce income inequality and through the introduction of the concept of a national minimum wage. He added that it was important to achieve a balance in pay rise and job security in wage negotiations.