Difference between revisions of "Labour Contract Revaluation"

Revision as of 12:32, 8 February 2014

A Labour Contract Revaluation occurs whenever there is a dispute about the level of pay of one or more Labour Shareholders. The process is defined in Clause 49.

If a dispute occurs, a three stage escalation process is followed:

• Valuation by a recruitment agency or recruitment consultant agreeable to all parties;
• Appeal (with resolution) subject to a vote at General Meeting;
• Advisory, Conciliation and Arbitration Service (ACAS).

Any ratio of highest to lowest paid (by default, 3:1) still applied if there is a Labour Contract Revaluation. Either the maximum salary is capped at 3 times the least, the minimum salary is raised to maintain the ratio, or Labour Shareholders must take a vote to adjust the ratio so that new pay rates can be accommodated.

Return to the FairShares Glossary.