Hanging out here for a while and commenting I just thought I would post some of the issues that I believe need fixing. Maybe some of this would have to be legislation or regulation, maybe some could be people just not working for bad companies.
- Two weeks notice required, or you can be marked as not re-hireable. Why? The company doesn't have to give two weeks when they let you go and what about the right to work that companies love to prattle on about.
- CEO to employee pay ratio. Some companies' CEOs are in excess of 2000 times the median income of their employees. Back in the 60s and 70s when people with incomes that high paid a 90% tax one it, the companies put that money back into the company, its employees, and benefits. Today they would rather pay $167 million in total compensation to their CEO and balloon salaries to their c-suite employees.
- Companies will screw their future to make short term goals or profit. All one has to do is read about how Verizon neglected their network in parts of NJ rather than spend money to keep it up. Didn't stop them from collecting the bills from their customers though.
- Remember the interview with Hillary Clinton. Had a CEO tell her that he would not make a decision that he knew would benefit his company over the next 10 years if it would cost him a penny off his stock price. The reason, activist shareholders would become his full time job hounding him and maybe wanting to sue him. He wouldn't be able to do his job. I understand that companies need to be profitable and pay back shareholders, but when did excessive profit become the requirement vs. reasonable or any profit.
- I am tired of the mantra that companies and CEOs or owners deserve all the tax breaks. WHY? Some say because they take all the risks, well what about the employees who take a chance to work for a company, especially a start-up or a dangerous job. Unless it is for resale companies should pay tax on everything they buy. They should also pay tax on income. I am tired of these 1% effective tax rates. They should pay the same rate we do.
- Anytime a job is posted the company should be required to post the wage/salary.
- Anytime a job is posted the company should be required to make the benefit information available, easily available.
- What if someone wants to start a new job that pays much more but then finds out the health insurance sucks and they need it for themselves or their family.
- Vacation and sick policy (time off) should be easily available.
- c-suite employees should be required to participate in the same retirement and health insurance as all the rest of the employees.
- No loop[hole investment options for high-income earners
- No separate medical just because they can afford it on their million dollar salary.
- I think there should be a limit to how much a CEO and the c-suite can make compared to the employees. I mean do CEOs really need $212 million a year? $5 million wouldn't be enough?
- Andrew Jassy Amazon.com, Inc. (AMZN) total compensation $212,701,169 6474 time average
- Median worker pay $32,855
- Even at 800 times average worker pay he'd have made $26,284,000
- Peter Kern Expedia Group, Inc. (EXPE) $296,247,749 2897 time average
- Median worker pay $102,270
- Would a limit of 150 times for the CEO and 100 or 75 time for the c-suite really be that out of line? Think of the benefits and salary benefits of putting that money back into the company.
- Andrew Jassy Amazon.com, Inc. (AMZN) total compensation $212,701,169 6474 time average
I mean some of the points above seem capitalistic to me, isn't that what companies always say they want? Unbridled capitalism. Well then, let them compete on the open market too. Show what they pay, show their benefits, none of this needs to be a secret. It's a bullshit reason to say it's proprietary. No it's not, patented processes or produces are, not pay and benefits. I am hopeful that the millennials and younger generations will change this attitude. The attitude that employees don't mean anything and are just a commodity to be used and disposed of. I have worked for companies where I have heard board members discuss eliminating health insurance, this was back in like 2006, saying “why should we offer benefits, there's no law saying we have to?” It's all about the profit. Like I said, I like and understand profit, it means a company is prosperous and will continue, but when did it become the be all to end all? Like K-Mart. I believe the CEO drove that company into the ground on purpose. Every time it was about to run out of money, he would lend money to the company. He was never interested in being paid back, because the loans were secured by the real estate that K-Mart owned. So driving the company into the ground, all the employees would lose their jobs and livelihoods, but not him…..he'd walk away with all the real estate. Nothing like making a fortune by destroying a company.