The debate in Davos was dominated by one issue: the surge in inequality.
In the UK the gender pay gap still looms large – and as the Institute for Fiscal Studies revealed, there has been a four-fold increase in the number of men in low-paid, part-time work over the last 20 years. Young people in Britain, according to the Resolution Foundation, can now expect to be £12,000 a year worse off in their twenties, than the generation before them.
The root of the problem is what the OECD describes as the ‘productivity-inclusiveness nexus’; productivity growth, which is what drives standards of living, is flat. Wages as a share of national income are falling – and a bigger slice of the wealth that is created is carried off by those at the very top.
The Gender Pay Gap
MEN 40% MORE LIKELY THAN WOMEN TO BE PROMOTED IN MANAGEMENT ROLES
Analysis of the 2016 National Management Salary Survey of 60,000 UK managers reveals that that men are more likely than women to have been promoted into senior and higher paying management roles in the past year, with no progress made on reducing the 23% gender pay gap.
Find out what male managers are being paid compared to female managers, and how promotion rates are affecting the pay gap.
GENDER SALARY REPORTING COMPULSORY IN 2017
ARE EMPLOYERS PREPARED?
New regulations coming into force in 2017 will require large organisations to report how they pay men and women.
WATCH: THE GENDER SALARY SURVEY
Research released today by the Chartered Management Institute and XpertHR reveals that men are more likely than women to have been promoted into senior and higher paying management roles in the past year, with no progress made on reducing the 23% gender pay gap.