It follows an extensive pay survey by Housing Today which included a calculation of pay against both stock and turnover (Housing Today, 14 January).
It is understood that early versions of the corporation study by Succession Planning Associates suggested using this calculation as a guide to appropriate pay and a method of stamping out excessive pay packages in the sector. It proposed that associations should be required to explain themselves if their chief executive's pay was more than 10 per cent above the correlation line.
But the corporation has rejected the proposals, claiming that pay levels in housing associations were not within its remit. It has also watered down many of the proposals in the study.
But it is understood that a graph illustrating Housing Today's correlation of pay against stock and turnover will be replicated in the report.
Sources who have seen earlier versions of the research confirmed that it contained proposals to peg pay to a percentage range of the correlation line. A corporation source confirmed the proposal did not make it to the final version of the study.
Unison housing association branch secretary Steve Wilkinson said: "It's a dreadful regret to the public interest that the corporation has not got the powers to regulate pay levels. Most employees' pay does comply with nationally agreed levels. But for chief executives' pay there is no form of regulation other than through boards where the interest of the board and chief executive are far more likely to coincide than with traditional pay bargaining."
National Housing Federation assistant chief executive James Tickell said: "Board members need the information and the confidence to be able to make accountable decisions about senior salaries. Any guidance needs to concentrate on supporting board members to make these difficult decisions."
He added the federation's new code of goverance would include an expanded section on pay setting when published next year.
Source
Housing Today
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