Some of the country’s biggest corporations have been coming under fire during the current annual general meetings season for linking lucrative CEO and executive bonuses to non-financial targets for diversity, sustainability and culture.
The Commonwealth Bank is expected to face the ire of investors at its AGM next month, after the bank altered its bonus plan to provide a 50 per cent weighting for these so-called ‘soft’ targets.
But advocates for diversity in the workplace have expressed concern over the negative publicity, arguing that setting targets for more open-minded hiring policies is necessary to achieve cultural change.
An area of particular concern is the employment of people with a disability.
Recent research by British insurer Lloyds found that an estimated $43 billion could be added to Australia’s GDP over a decade if disability discrimination was addressed.
Source: ABC News