this post was submitted on 08 Dec 2024
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CEOs should just be elected by the employees
Yeah... no.
Reality is sometimes the boss has to be bossy. Quadrupling salaries and cutting 4 days a week from the schedule sounds great for employees until the business fails.
What should be implemented is a maximum ratio of executive/worker pay (including contractors so they don't just outsource cheap labor to cheat the system) based on 5-year averages.
Without the 5-year rule, and new CEO can come in, give everyone massive raises, and burn the company down for a quick buck.
The boss can still be bossy if elected. Your 5 year rule is silly and does not address the overlying problem, which is that the CEO works for the shareholders and they only care about making record quarterly profit gains at any cost.