Let's be clear what we are talking about: by far the largest part of this cash pile is paid out to a small number of bosses and managers at the top of our biggest companies. In banking, the rewards are spread around a bit more, but they barely touch the vast majority of employees in branches and behind computers.So? That's a matter for them and their shareholders. No-one else.
And it is worth asking what these cash payments are for. A bonus in most people's minds should be paid for doing something exceptional, something that is beyond the call of duty and comes on top of the day job. However, for many top earners, bonuses have become too easy to achieve and are almost taken for granted as part of the salary.And again, it's none of your business. If the management and shareholders want to award bonuses, it's up to them. Don't like the idea? Work somewhere else!
Big pay ratios within companies have been shown to affect motivation and employee morale. More than that, it is quite obscene for bosses to continue to award themselves big pay-outs when company performance is mediocre, share prices have gone nowhere and staff are being cut (or agreeing pay cuts to preserve jobs).And in a free world, you are free to seek other employment if you disagree with the way a company is run. Most people don't care, they are more concerned with doing their job and then going home to their families.
They gave up student politics when they grew up...
Inequality is holding back economic recovery. It is not surprising there is little demand in the economy when many are struggling to make ends meet. At the same time, trust in the business sector is plumbing record lows. Business leaders are even looking to the church to help them restore their moral compasses. Part of the answer is in their own pay packets. It is time to get away from the idea that executive pay is some kind of jackpot that bosses have to hit. What is wrong with working for a salary like everyone else?Nothing. Why son't you try selling your ideas to the senior civil service, and the BBC? I'm sure they'll be receptive...
The High Pay Centre has called for widespread simplification to these complex packages which are hard for everyone – including those on the receiving end – to understand. Performance-related pay should be kept to a minimum and even then paid in shares that have to be held beyond retirement.WTF?!?
It is time for a broader debate in Britain about what is fair pay at the top and across the workforce.I’ll keep it simple for you – fair pay is what ever a company and it’s shareholders decide to pay out for the job.