• Syldon@feddit.uk
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    1 year ago

    One of the biggest failings in Western economics is the prevalence for across the board percentage pay rises. People getting paid £40k get double those on £20k when both get an equal amount in pay percentage increase. This has been part of the reason why top bands in large companies have gained such huge pay scales. Percentage rises are nothing like an equal pay rise. It is way past time unions recognised this.

    Kind of Kudos to the Chinese for this. I hope they see fit to roll it out among some of the more powerful families in China also, and not just use it to claw back some money from the middle class.

    • Saneless@sh.itjust.works
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      1 year ago

      The other half of the problem is if a CEO ever said “We’re going to have lower profits this quarter because we started paying everyone more” that CEO will be locked out and that’s if the people making those decisions aren’t sued first by the board

      Sharehoarders are the biggest issue