The Equality Trust welcomes initiatives to reduce inequality, so we were interested to see that a new international wage standard has been developed to encourage organisations to commit to fairer wage ratios.
The Wagemark Standard requires organisations to commit to a wage ratio between the highest-paid employee and lowest-paid decile ofworkers that does not exceed 8:1.
It is an international standard and is already being taken up by companies, non-profit organisations, and government agencies, allowing them to display their commitment to competitive, responsible and sustainable wages.
With concerns growing over spiraling income inequality, the WageMark Standard allows organisations to show their customers and clients that they support a wage range that provides greater workplace morale and social equity.
For more information, please visit their website at https://www.wagemark.org/