The British fashion company Next has called on its shareholders: Inside, to vote against a decision that would oblige the company to disclose, as its employees: inside. The aim of the application is to clear concerns about the wages of the employees.
A group of investor: Inside, it is committed to ensuring that Next creates more transparency and the working conditions for its approximately 40,000 sales employees: improves on the inside. Specifically, they demand that Next be opened how many employees are paid below the so -called “real live wage”, ie the real existential wage. The decision is supported by a group of institutional investor: inside, including AXA, Scottish Widows and the Greater Manchester Pension Fund, as reported by the financial portal This IS Money.
Clare Richards, member of the Church of England Pensions Board, another supporter of the decision, told the media company: “A disclosure of Next’s salary spots would show how the company tries to bring the needs of its stakeholders: inside and the worst paid employees: to reconcile inside.”
The so -called real livelihood is currently £ 12.60 per hour in Great Britain and thus above the statutory minimum wage of 12.21 British pounds. For young people between the ages of 18 and 20, the statutory minimum wage is only £ 10 per hour. In London, on the other hand, the recommended minimum wage is 13.85 British pounds per hour.
In his latest annual report, Next reacted to the request and explained that it “does not consider it appropriate to create additional, tailor -made reports beyond the existing disclosures”. According to the company, these already fulfilled the legal requirements.
In the same report, Next stated that its retail employees were paid in accordance with the statutory minimum wage sets, including the application of age -dependent national minimum wages. The national existential wage serves as a guideline, but the payment is only guaranteed after a year of service and if certain performance requirements are met. An increase in wages would be associated with “considerable consequences of costs”, the retailer continued. In addition, Next emphasized that it wanted to preserve the “flexibility” of determining its own salary rates instead of handing this decision to an external authority.
In conclusion, the company added: “We are committed to paying fair wages and act in the best interest of all stakeholders: We believe that it is of crucial importance for the company to keep control of salary and performance decisions instead of resigning this responsibility. Impair employment opportunities. “
The decision will be voted on on the upcoming General Assembly of Next on May 15th.
This article was used with digital tools translated.
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