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Must you confirm increases in writing?
Labour Bulletin | 5 February, 2009 | Hot Topics:
Dear Reader
Welcome to this week’s Labour bulletin.
I got a very interesting invitation this week that I just had to tell you about.
Do you remember the 1994 King Committee report on Corporate Governance, produced by the Institute of Directors Southern Africa (IoD) and its vice-president Mervyn King? If not, don’t feel alone, I don’t either! I am, however, very familiar with the King II report, an updated version the committee did in 2002.
The King II report elaborated on the groundbreaking original report that gave companies guidelines for how they should carry out stakeholder duties. The committee developed the update when new local and international legislation came about because of corporate meltdowns! Governments needed to maintain good corporate governance and prevent more disasters.
But that was then and this is now…and there have been many more developments and catastrophes since!
The IoD keeps the code up to date and relevant, and in step with international principles and practices, so the committee has updated the report again. It looks at the impact on corporate governance of the Auditing Profession Act, the new Companies Act, the Prevention and Combating of Corrupt Activities Act and the BBBEE Codes of Good Practice.
How does this impact you? (And you can be sure it does!) Find out at the King III Draft Release on the 25th of February at the JSE Auditorium in Sandton.
Q&A from our subscribers
Must you confirm increases in writing?
Question
Do we have to inform employees individually in writing of their increases?
Answer
There is no legal obligation to do so, but it’s prudent and good practice for you to confirm increases in writing.
Until next time...
Sarah-Jane Bosch
Managing Editor
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Editors note
Michelle Govender
Labour Bulletin Editor
The Labour Bulletin team speaks to subscribers every week on landmark labour events and offer valuable and practical information from the Handbook, from questions and answers and from our experts that subscribers can use now to benefit their business.
