Sep 15, 2023
Spot the difference?
seen from United States
seen from China
seen from Singapore
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seen from United Kingdom
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seen from Argentina
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seen from United States
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seen from United States
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Spot the difference?
At Weight Watchers, the chief makes 6,000 times more than the average worker.
The average CEO of a Fortune 500 company earned about $14 million in 2017. “Yeah, but they work hard enough to deserve that money!” Really? Let’s break that down: $14 million annually = $269,230.77 a week every week, assuming the CEO never takes vacation = $38461.54 per day if the CEO works seven days a week = $3205.13 per hour if the CEO works a 12-hour work day each of those seven days = $53.42 per minute if the CEO works every single minute of those 12-hour work days = $.89 per second! So, if the average CEO works so hard that they are working every second of every minute of twelve hours every single day of the year, they’re earning $2.67 every single time they breathe while on the job. Do we honestly believe that anyone works hard enough to be paid $2.67 for every breath they take? Do we honestly believe that CEOs work every single second, twelve hours a day, seven days a week, with no time off?
Passing the Buck: Why We Pay More But Make Less Part 11: Who Profits?
Following the Money We’ve shown you the costs. We’ve shown you they don’t add up. Now let’s follow the money. Emma from Part 10 pays out $71,564 per year in shifted costs—92.9% of her gross income. That money doesn’t disappear. It goes somewhere. Let’s trace every dollar Emma spends and see who collects it. Emma’s $77,000: Where It Goes Housing: $17,580/year Emma’s landlord: Owns 140…
This Graph Exposes Our Rigged System
Apple CEO Tim Cook takes 7 hours to out-earn the average American’s salary
Apple CEO Tim Cook Some of America’s highest-paid CEOs earn more in a few hours than the typical U.S. worker makes in an entire year. For example, Apple CEO Tim Cook surpasses the annual salary of an average American worker in roughly seven hours. Emma Burleigh for Fortune: And even though he’s one of the highest-paid chief executives in the world today, his current paycheck is a far cry from…
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Elon Musk's 1 Trillion Dollar Package
Elon Musk to Get a 1 Trillion Dollar Pay Package.
In a span of a decade, i.e., 10 years.
How does it feel while reading?
Is the package really appropriate to what Mr. Elon will do in the next 10 years for Tesla?
At a time when …
Financial crisis can be seen.
IT sector is said to bleed.
People are getting laid off.
People are struggling with mediocre pay.
Freshers are not getting offers.
Employees are in a constant fear of losing jobs.
What impression will you make of his demand of 1 Trillion dollars?
At this moment, I remember the words of Sir Ravish Kumar on a different incident when a big business house filed a defamation case of crores of rupees on a news agency when they were being exposed in the court of law for their wrongdoings.
And why crores of rupees? Because their REPUTATION was at stake. And that is why they wanted the media to stay silent by threatening them.
A typical case of classism in democracy.
And then he has the guts to criticize Mr. Mamdani as he is a socialist?
Being a socialist is someone who cares for the members of the society right?
Mr. Elon's concern is if Mamdani's policies are taken into action then the lifestyle of people from rich to everyone will see a huge downfall.
As someone who has been from the corporate background, I see it as a very negative aspect.
When people are offered roles with a pay cut, promotions have become trickier, and appraisals are not matching the rates of inflation.
But CEOs and founders are grabbing packages with 10 to the power whatever when companies are themselves suffering from the AI adaption is just crazy.
I am sad.
Note: I do not intend to insult corporate employees, majdoor is used here for humor.
Credits: Elon Musk Smiling Image | Mashable India O Bhai Maaro Mujhe Maaro - Meme Template | Sachin Kumar Gupta (YouTube) News Article | Reuters Reuters Logo | Logopedia
The Role of Compensation in Family Business CEO Succession Planning
Leadership transitions are rare for family-owned and founder-led organizations. When they do occur, compensation often arises as an unexpected pain point. That’s because the majority of family businesses – who may not have had to hire an executive in decades – take an outdated approach to compensation. As a result, many family businesses struggle with below-market compensation – which can undermine their succession plans.
Here's what family businesses need to know about developing competitive executive compensation packages that attract top talent and align with ownership values.
Why Family Businesses Struggle with Compensation
It isn’t uncommon for family businesses to maintain compensation models from the 70s and 80s, where base salaries are fixed at below-market rates and compensation decisions are unstructured and discussed behind closed doors. Today, market-appropriate compensation, transparency and structure are the norm – so top talent often rejects those who cling to an antiquated compensation model.
The harms of this approach are compounded by the fact that many family business executives are long-tenured employees. This phenomenon, sometimes referred to as “long-termism,” often leads to compensation complacency. Families rarely adjust executive compensation packages to align with market rates. This means executives are often underpaid and families have a false sense of what appropriate compensation looks like.
The Importance of Getting Compensation Right
When family businesses fail to update their compensation practices prior to hiring a successor, a lot can go wrong. Below-market packages typically don’t attract the best-qualified candidates, which means the business may be forced to onboard (or inboard) an individual who lacks the credentials, temperament, vision and values needed to thrive in the role.
The wrong placement can sow chaos and expose both the organization and family to financial and reputational risk. Any resulting damage can threaten the livelihoods and reputations of employees and shareholders – and set the business back for years.
Because of this, it’s the business owner’s responsibility to appoint the leader who is best qualified for the role, regardless of whether they come from within the family or outside of it. To entice top performers – and land the most qualified individual – compensation must be competitive and informed by market data.
How to Build a Succession-Ready Compensation Strategy
Here are four strategies family businesses can use to design compensation policies that support their succession plans:
1. Conduct Regular Compensation Benchmarking
Family businesses should review compensation at the board level, ideally through a formal compensation committee. To keep compensation competitive, it is recommended that the committee annually review industry standards for similar roles and regional compensation norms.
2. Eliminate Family-Controlled Discretionary Compensation
Today's executives expect clear guidelines about how their performance will be measured and rewarded. To meet this expectation, organizations should have structured, transparent bonus policies in place.
3. Implement Performance-Based Succession Incentives
A competitive compensation package is a powerful tool that family businesses can use to establish expectations and set milestones for their new placement. Structured bonus policies incentivize new leaders to meet performance goals – and allow them to demonstrate they are the right person for the job.
4. Make Strategic Compensation Compromises for Long-Term Success
Family businesses may need to make concessions when it comes to compensation. This requires a strategic approach, wherein families must understand their compensation limitations and identify which roles truly require top-tier talent.
About Stranberg
Family-owned and founder-led businesses trust Stranberg to ensure leadership continuity by identifying what is needed for the next generation of CEOs and executives and who is best qualified to fill those roles. Grounded in the values that define your family and business, Stranberg’s founder and family business CEO succession planning and family business executive search services help you get leadership-level hiring right the first time.
Whether the right fit is a family member, an internal candidate, or an external placement, we prioritize aligning leadership decisions with your business’s unique culture and vision. By deeply understanding your organization, holistically assessing candidates, and navigating common pitfalls, Stranberg places leaders who embody your values and are ready to fulfill their responsibilities – ensuring your business thrives for generations to come.