Cordant, 125,000 of the largest recruitment firms in the UK , is to become a “social enterprise” operating a pay cap and profit-sharing scheme. The company, which supplies 5,000 temporary staff the past two years to 5,000 clients including Tesco and Amazon , will restrict its pay ratio, meaning that the pay of top earners will not be allowed to exceed 20-times that of the lowest-paid employees. Dividends will also be capped. Social schemes will include offering staff and services to the NHS at cost and educational initiatives.
Cordant, one of the largest recruitment firms in the UK, is to become a “social enterprise” operating a pay cap and profit-sharing scheme. The company, which supplies 125,000 temporary staff each year to 5,000 clients including Amazon and Tesco, will restrict its pay ratio, meaning that the pay of top earners will not be allowed to exceed 20-times that of the lowest-paid employees. Dividends will also be capped. Social schemes will include offering staff and services to the NHS at cost and educational initiatives.