It’s no secret that the EU zone is becoming increasing uncompetitive on industrial and manufacturing projects, thanks to high pay, high regulation and climate change targets set by politicians. Meanwhile China and India are rapidly becoming the the two main global hubs for industrial manufacturing at scale.
Here’s a quick comment on the latest EU regs on SME pay transparency;
Regarding the upcoming implementation of the EU Pay Transparency Directive, VDMA Executive Director Thilo Brodtmann says:
- “The implementation of the EU Pay Transparency Directive comes at an inopportune time. Small and medium-sized enterprises in particular will be unduly burdened. New reporting requirements, extensive documentation efforts, and considerable liability risks loom. The emergency brake must be pulled here.”
- “We call on the German government to speak out strongly at the European level in favour of completely abolishing the directive. Europe now needs growth impulses for industry, not additional red tape that is neither practicable nor effective.”
- “We support the goal of equal pay for women and men. However, we will not achieve this with further bureaucratic requirements and reporting obligations for companies. Instead, the causes of pay differences should be addressed, including career choices, parental leave, and part-time work.”
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