Ratio of the average wage of non-salaried permanent (full-time and part-time) employees of the organization during the reporting period, compared to the local minimum wage as of the end of the reporting period.
IRIS metric citation
IRIS, 2016. Minimum Wage Multiple (OI6176). v4.0.
Organizations should footnote the details on how the average wage was calculated and the source from which the local minimum wage was referenced. See usage guidance for further information.
Organizations can use a variety of timeframes to calculate the average non-salaried wage (e.g., hourly, weekly, daily, other specific time cycle) and should use the same time period for comparing wages to the local minimum. For example, if the minimum wage in a given area is based on an hourly rate, the average wage should also be hourly.
Organizations should footnote the source of the local minimum wage used to calculate this ratio. Organizations can refer to the minimum wage definition in the glossary for more resources on where to find minimum wages by various geographies.
Organizations are encouraged to narrow this calculation to specific geographies, industries, departments, positions, etc. and should provide footnotes detailing how the calculation was made.
March 2016 - IRIS v4.0 Released (current version)
New metric. Minimum Wage Multiple (OI6176) developed via IRIS Taxonomy Group.
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