Global Standard Glossary

The difference between the actual wages paid to workers and the wages required to meet their basic needs and provide some discretionary income, a Living Wage. The Wage Gap is a measure of the extent to which workers' current compensation falls short of a Living Wage benchmark.

A subsidiary company is considered wholly owned when all of the common stock is owned by another company, the parent company. With a wholly owned subsidiary, the company's stock is not traded publicly. It remains an independent legal body, a corporation with its own organized framework and administration. Its day-to-day operations are likely directed entirely by the parent company, however.

Any individual engaged in work who is not a senior manager or owner.