CEO compensation increases continue to be gaudy, but if you think they are overpaid take a look at the paycheck of Joe the machinist.
In what is sure to be a heavily debated think piece out of management consultancy Booz & Co., the case is made that employers should be reevaluating what they pay to people who have held their jobs for a length of time, in light of the readjusting employment market. And in some cases, that pay should be lowered or the employee retrained or terminated.
They lead with the example of Joe, a machinist at the same company for 25 years.
“Although Joe is a significant asset to his firm, his wages have gone up steadily while his responsibilities have remained largely unchanged. The result is that Joe is significantly overpaid as a machinist compared with co-workers who have been doing the same job for just two years,” write Booz consultants Harry Hawkes, Albert Kent and Vikas Bhalla.
http://www.bnet.com/blog/harvard/outrageous-ceo-pay-how-about-lowering-salaries-of-longtime-workers/12426
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