5 hit list items: nest means to tackle

Nest has declared topics it will focus on once it has more influence.

09:53 07 May 2013

The National Employment Savings Trust (Nest) has declared their stance on large corporations and what they believe should happen, with a subtle message about how savings can be addressed within a company, and without detrimental effects on the workers.

 

Nest has brought attention to the recent trend in corporations to hire executive-level employees and then fire them within three years.

 

This has been causing executives to demand more income up front, leaving the company without as much savings, or with the option to hire a less-qualified candidate who may not require as much money, but who may also put the company’s financial status at greater risk than the candidate requesting the higher income.

 

Companies have to determine whether or not the savings in income payout is worth the potential risk. Here are some additional concerns that Nest is prepared to deal with:

 

• Eradicating overly-complex pay structures that make it difficult to determine if employees are being paid fairly and appropriately for their level of service.

 

• Eliminating all-male boards and encouraging gender-equity within companies by means of company “gender targets”.

 

• National Employment Savings Trust has also made it clear that charging auditors exorbitant fees is unacceptable.

 

• Working to ensure bonus schemes are not being used to ensure the top level of employees are getting a disproportionately large amount of money in comparison to management.

 

• Supporting the ability of the working classes to increase or begin their savings by setting up a “living wage” campaign that will reflect the cost of living, calling for £8.55 per hour in London and £7.45 elsewhere.

 

National Employment Savings Trust has made it clear that they prefer to consider wages within companies, with the focus on the wage ranges within a company, rather than looking exclusively at the wages of the industry. They desire to reduce the disparity between the different types of workers’ wages within large companies.