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Companies getting ahead of the curve before they are scapegoated in the 2016 campaign, and then FORCED to give raises.
One of my wife’s young employees graduates from college next month and starts at $80,000+ at CapGemini.
If he TRULY wants to make me happy, just write me a check for $70K, LOL!
I betcha a LOT of the day to day stuff there is contracted out.
So money CAN buy happiness, after all?
I’m not sure if this is part of their thinking, but —
With automation increasing, a lot of work can be done by a small number of people: if the people are smart and well trained. If you create a demanding corporate culture in which EVERYONE has to work hard and do the work CORRECTLY, then you can accomplish a lot with a small staff.
So, find seriously smart people, pay them well, work them hard. You could be quite profitable. And if someone isn’t delivering, just show them the door.
I believe Netflix does this — if they determine that you are doing your job adequately, they fire you. Because they demand more than that.
Where I work, there is no question that 80% of the people do little or nothing. The percentage may be 90%.
I wonder if this company outsources “non-professional” work such as Facilities Management, Credit/Collections, Billing, Payroll, etc. If they are truly paying janitors and receptionists $70,000 a year, then hats off to them. But I think that if you scratch under the surface, you will find that the actual employees are in mostly professional jobs.
Two questions...
A. What are the starting and average salaries of his employees already?
B. How much of the CEOs income comes from his salary, as opposed to stocks, bonuses etc.?
maybe he has been privy to certain discussions at the Federal Reserve. Buy gold.
Maybe they recently outsourced most of their employees.
At any rate, it don’t pass my smell test.
That is pretty insightful. This must not be the top paid CEO in the land if that is the extent of his intellect (per the article).
Next, how much are those to get raises making right now? $65K, $40K, $20K? Apparently the CEO is taking a $930,000 pay cut (on the surface). That is noble and he will likely win some loyalty and productivity in the ranks. Good for him. But I hope he has given more thought and has more reason than just the PR side of their business. What about the 20 year employee that is making $72K/year currently? Does he get a separate but equal pay raise.
The day they start paying the “little people” the same thing they pay the middle level people, productivity goes through the floor. This CEO isn’t thinking through the reality of human nature. He either needs to bump the entire pay structure up or he’s going to have a bunch of disgruntled employees. All his mid-level folks, contrary to what he’d like to believe, aren’t going to think “wow, this is great, everyone is making a good wage.” They’re going to think “if he can afford to pay the janitor $70K, I know I’m worth a whole lot more, because I do more work, or I contribute more, or whatever.” Then they’re going to slack off until they get paid what they think they’re worth. This backfires, big time. File it under no good deed goes unpunished.
I think that the minimum wage should be $1,000,000 per year.
That’s fine if the employees making $70K are actually worth at least that much to the company.
Dialectic Materialism...
Democrat = Communist..
Republican = Fascist..
Loosertarian = Anarchist..
70k a year... OK...but is that for the people starting out... or do you outsource the mailroom and janitorial services?
I’m gonna LMOAO when these folks get their next tax bill.
If this works true to form, not all of the employees will be retained at that price. Expectations must be high if the company is to remain healthy.