Buffett on fair rewards

[Pat494]

I am glad to see Warren Buffett has found the " FAIR " word and proposes that the super rich contribute more in tax.
This word sorta stinks in the USA of socialism, liberalism etc. and is quite unacceptable in many quarters especially Republican areas.
I wrote to Experian, as a shareholder, to propose that they institue a fair pay package in their company, but got brushed off with the following

Dear Mr ********,
Thank you for the comments you submitted recently on the “Shareholder Questions” card, sent to you with the documentation for our 2011 Annual General Meeting.

Experian aims to provide its employees with compensation packages which are competitive in the markets in which they work in order to attract, retain and motivate high calibre individuals. Given the significant differences in the level and structure of remuneration across 41 countries in which we operate, we need to adopt locally appropriate remuneration policies. The pay structure you describe does not provide the flexibility needed to achieve this.

Ronan Hanna
Deputy Company Secretary

A pity really because the company would be much more efficient and competitive in the market place

 

[Trader333]

A pity really because the company would be much more efficient and competitive in the market place

That presumes that you can get people of equivalent skill and competence to do the same job at much less money which is not how it works in my experience. Although I accept that in many cases there are people in higher positions who are staggering incompetent but most of those did not get their positions on merit and it is down to "who you know".


Paul

 

[Pat494]

That presumes that you can get people of equivalent skill and competence to do the same job at much less money which is not how it works in my experience. Although I accept that in many cases there are people in higher positions who are staggering incompetent but most of those did not get their positions on merit and it is down to "who you know".


Paul

There is a "Golden Rule" of survival in the business world and that is never employ anyone of superior talent because they will get ahead of you. So after some decades the quality in most companies is reduced further and further to the lowest common factor - a bit like politics.

It is then down to " brown nosing" who you know