Reward and effort in balance
Open and transparent reward structures allow individuals to see and understand whether their pay is fair relative to others. Yet equal pay remains a challenge across all workplaces, as do other unfair and discriminatory pay practices.
The Chartered Management Institute has identified a 50 per cent gap in bonuses paid to men and women.
More broadly, as Wilkinson and Pickett argue in The Spirit Level, inequality causes shorter, unhealthier and unhappier lives. It also idestroys relationships between individuals born in the same society but into different classes – not least where opportunities for social mobility have been progressively eroded.
The five other key components of good work are: