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"In 2007 the average CEO pay in the US was 183 times greater than the pay of the average employee (ILO, 2008:17). Discuss this in relation to ethical theories of justice"
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CEOs and other higher level of management are fulfilling their duties to the firm when crafting a business policy. However, in doing so, they are also fulfilling duties to themselves because the success of the business will have a big impact on what they get in terms of salaries and enhanced reputation. Similarly, employees are rendering their services to the firm they are also fulfilling their duties to themselves and the firm. However, there is too much deviation in terms of what ordinary employees get and what the CEOs and higher level of management gets. This difference in the salaries means that employees do not get a lot from the firm’s success, whereas the top management gets a lot. As a result, we can see that the actions of top management are based on their own self interest. Hence, it won’t be wrong to apply theory Immanuel Kant here. He believed that actions are only morally right when there are not subject to selfishness and only selfless actions are ethically correct. Hence, we can see that employees’ actions are morally more correct because they know they won’t get much of the share of the firm’s huge profits, even if they work hard and yet many of them do work really hard. According to the theory of justice by Kant, the actions of CEOs are ethically wrong because there is more self-interest attached to it than their commitment to the firm. Similarly, if CEOs and top management salaries come down in line with the employees then we can see that they doing justice to their work. (Velasquez, 2005)
Deontological framework also provides a basis for an excellent acid-test so as to judge the actions of the various parties involved in the organizational settings. Deontology framework states that only those actions comply to justice where your intentions are just and are for the motive that you want pursue. Any coincidences where your wrong ...
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A CEO is answerable to the Shareholders as well as the non-executive directors of the company. He is not paid for manual labor performed or the paperwork compiled. A CEO’s performance is judged by his profitability to the company. The successful endeavors undertaken by the company and the increase or decrease in the company’s economic value are the clear markers of the CEO’s productivity.While it is easy to assess the profitability of a company by analyzing its ratios and comparing them to those of other similar businesses, judging the extent to which its employees are responsible for its position is much harder it judge.
Infact, European Union was designed with the expectations of giving way to a dynamic social setup that will be sensitive and flexible enough to adjust and adapt to the emerging social, ethical and business issues (Ingeborg. 1999). From this perspective, pay equity is and should be one of the cherished agendas of the European Union (EU) in particular and a majority of the democratic nations of the world in general.
It is the CEO's responsibility to implement board decisions and initiatives and to maintain the smooth operation of the firm, with the assistance of senior management2. Often, the CEO will also be designated as the company's president and therefore also be one of the inside directors on the board (if not the chairman).
It appears as though these executive pay issues are often at the forefront of the news when executives are involved in some type of litigation that result in compensation related issues; or simply a news flash about exorbitant executive compensation. The topic of executive pay has received significant attention in recent days as evidenced by an explosion of interdisciplinary literature ranging from law to accounting to organizational behavior and strategy.
Regardless of the job type, whether the skills involved require a minimum or a maximum amount of training, a woman who has all the skills necessary to perform highly in a given position will (almost without fail) attract a lower wage compensation
Usual rehearsal is to link the pay with grade structure, and seniority levels. The concept of new pay is to link the pay and rewards system of the employees with the business strategy and change. (Lawler III, 1995) The concept was further developed by academics by arguing
According to the report effectiveness reflected in relation to high employment levels. Employment is chosen only when a particular market wage exceeds or equals the reservation wage. Effective pay system provides incentives to employees based on how effectively they perform their jobs. The objectives of efficiency in pay system are to link a part of wages.
The advantage of using the mode is that it is not affected by extreme values. Its disadvantage is that there can be more than one answer. Also, when there is no value that is repeated in the data, all the values will be the mode; thus, it becomes
Hence, it is beneficial for analyzing the current as well as future trends and patterns of any investment. There are varied ways to calculate moving average for any particular investment namely simple moving average,
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