Study: Demands for a salary cap for managers on the rise
Published: Friday, Nov 10th 2023, 12:50
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Demands for wage caps for managers are increasing among the population. 83 percent of respondents are in favor of this, according to a study. Last year, the figure was only three quarters.
This is the result of a representative survey conducted by the research institute GFS-Zurich on behalf of the consulting firm HCM International, which was published on Friday. For the study, 1000 people were interviewed by telephone or online.
This means that the demand for caps on executive pay has reached its highest level since the remuneration survey began 13 years ago. Previously, the approval rates had never been higher than 80 percent.
No agreement on the level of the wage cap
However, not all respondents who called for a salary cap had a concrete opinion on the matter, according to the report: "For years, it has not been possible to identify a common and broadly supported denominator as to where a cap should lie." There is an accumulation of agreement for caps at 500,000 and 1 million francs.
The majority of respondents (53%) are in favor of controlling management pay being a matter for shareholders and owners and not a government task. This is more than in the previous year (49%).
In addition, the demand for sustainability issues to be included in the remuneration of carpet managers has risen further to 90 percent. A year ago, only 81 percent of respondents had demanded this.
"The Swiss population is increasingly of the opinion that too little consideration is given to sustainability issues in remuneration models," said HCM CEO Stephan Hostettler in the press release. It is true that 46 percent of companies in the SPI share index currently take ESG aspects into account in their remuneration decisions. "This may not yet be widely known among the population."
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