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HRM3705 assignment 7 solutions semester 1 2024 (Full solutions)
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HRM2603 ASSESSMENT 6 SEMESTER 1 2024 Consult the internet and download the remuneration report of an organisation of your choice (e.g. FNB). Study this report and answer the following questions. 1.1...
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HRM3705Assignment 7 SEMESTER 1 2024
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DUE DATE: 20 May 2024
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Question 1
The proposed amendments to the Companies Act 71 of 2008 regarding statutory
remuneration disclosure requirements are likely to have a significant impact on small
businesses in South Africa. The introduction of a remuneration report, consisting of
various details on remuneration and benefits paid to directors, officers, and employees,
as well as an indication of the pay gap between the highest and lowest paid employees,
will increase transparency and accountability in remuneration practices. This will affect
small businesses in several ways. Firstly, it will require them to gather and disclose a
significant amount of remuneration data, which may pose a challenge in terms of
resources and expertise. Secondly, it will require them to evaluate and potentially adjust
their remuneration practices to ensure fairness and compliance with the new
requirements.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
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