The cost of employment in any work spectrum constitutes various pay components including allowances, bonuses, incentives, non-cash benefits and pension.
These executive positions tend to prove one’s ability to manage and run an organisation, but women still lag behind to fit in the top positions as the opposite gender continues to prove tough at the helm.
On average, the executive boards comprised nine members out of whom seven were male while only two were female in four years to 2021,
“Clearly, the female gender is still largely under-represented. On average, seven board meetings were held over the last four years,” said PwC in its report.
On average a Chief Executive Officer’s total cost of employment per month is being estimated at Ksh.9.1 million on monthly basis with Ksh.11.6 million being at the top end of the market.
According to PwC, the banking sector recorded the highest average monthly total cost of employment for the CEO at Ksh.10.3 million with Agriculture recording the lowest average at Ksh. 1.9 million per month.
The Chairman of the Board of a small organization is paid on average a meeting sitting allowance of Ksh.98, 000 while that of a large organization is paid about Ksh.194, 000.
In terms of age, the average age of Executive Directors has ranged from 47 years to 52 years over the last four years while that of Non-Executive Directors has ranged from 56 years in 2018 to 59 years in 2021.
In the financial year 2020/2021 there was a decrease in the CEO’s remuneration compared to the previous year 2019/2020 contributed mainly by a “decrease in the short term incentives pay-outs (bonus).”
