Thanks Jennifer for floating this important topic – and to Bill for being very open and courageous to highlight some statistics – many of us do not know.
It is great that NYC introduced the transparency law on salary and remuneration packages. Such transparency laws normally exist for all public sector employers – now, it seems to me, the same applies to all businesses working in NYC. Although I am not sure how authorities can or will react to any untoward or unfair practices – if any such thing is revealed. One thing for sure, such employers will be much more careful – even create positions to hire corporate lawyer or law firms (if they do not have one already).
Browsing many such ideas and opinions – it is prudent to say that – indeed, transparency of corporate (for that matter, in any entities) practices is very vital to minimize mistrusts – as well as to implant the sense of belonging to all the employees. It helps both ways – from employee satisfaction and high productivity – to corporate reputation and profitability. That said, it is not something often easy to do in an aggressive social framework – in a system (Bill, as you mentioned somewhere else) or business models – where winning tantrum, blaming each other and swearing are common.
It so happens, as outlined in the Leadership and Management with a remark on moral/ethical expectation that . . often terrible dissatisfaction arises in an organization when the executive pay packages are disproportionately higher than the remunerations of the rank and file. Each and every individual contributes to the success of a business – therefore it is only natural to expect fairness for all . . .
Dr. Dilip K Barua, PhD
Q1. What, and how did Brad Watson's "Freese & Nichols" use to guide their re-engineered organization?
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Q2. If Freese & Nichols, did it, why not you?