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Thursday, January 02, 2014

WageMark: the new standard

Make your mark for smart business

Wagemark is a new international wage standard used by companies, non-profit organizations, and government agencies to certify that the ratio between their highest and lowest earners is competitive and sustainable. Organizations choose to become Wagemark-certified to demonstrate their commitment to paying competitive, responsible and sustainable wages.
The Wagemark Standard builds on an important and growing body of research concerning the economic and social costs of income inequality and makes it possible for organizations to respond constructively by committing to operate within a wage range that supports greater competitiveness, workplace morale and social equity.
Wagemark compliance is certified by the applicant’s preferred chartered accountant or auditor, and does not require the disclosure of either maximum or minimum earnings — only the wage ratio between the top and bottom decile of earnings within an organization.
Wagemark-certified organizations are committed to ensuring that the wage ratio between the highest earner and lowest decile of earners within their organization does not exceed 8:1.


Wagemark Foundation is about establishing a new moral standard for companies and organizations that want to see a better world and are prepared to put their money where their mouth is
The Wagemark Standard is based on a formula for calculating the ratio between top and bottom earners within an organization. This formula is calculated and certified by a third-party chartered accountant, and compares the total earnings of the highest paid employee with the average pay of the bottom decile of earners within an organization. This decile is based on the proportion of full time and part-time employees within the organization. Earnings include all tax-reported income and benefits. Wagemark-certified organizations must achieve an 8:1 or better wage ratio.

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