As CEO pay skyrockets, many workers feel left out. Here's why being respected in the office matters so much to job performance.
Critically, this increase in compensation is not co-enjoyed by the average worker, who has only seen
since 1978 . However, this 18 percent increase masks the reality that some workers’ inflation-adjusted pay since 1978 has. As always, the poor and underprivileged suffer the most—those without college degrees have experienced a median wageFor the current outlook to be fair, CEOs need to be producing 1,460 percent more for their companies than they did in 1978. Moreover, CEOs need to be producing as much value as 399 average workers on a day-to-day basis.
Does this pass the equity test? Plato would balk and reinforce his conviction that nobody should be paid more than four times any other. Peter Drucker, the “father of modern,” would also shake his head and say, as he did years ago, “I have often advised managers that a 20-to-1 salary ratio is the limit beyond which they cannot go if they don’t want resentment and falling morale to hit their companies.
furnished by AFL-CIO which pulls CEO-to-worker pay ratios . Whereas some S&P 500 companies have huge pay gaps such as Amazon and McDonald’s , other reputable companies have modest pay gaps such as Berkshire Hathaway and Google . As we would expect according to principles of fairness, Berkshire Hathaway has been recognized as a great place to work. Meanwhile, some worry about Amazon running out of potential workers to hire within the next few years as they churn and burn through hundreds of thousands of workers who deem the work not being worth the pay, quitting sometimes after only a few days or weeks.
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