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CEO cuts his own pay by 90% to give every employee a huge pay rise

CEO cuts his own pay by 90% to give every employee a huge pay rise | School Psychology Tech | Scoop.it
A chief executive has announced plans to raise the salary of every single employee at his company to at least $70,000 (£47,000) – and will fund it by cutting his own salary by 90 per cent.

     

Mr Price, 30, has gone one step further, after telling ABC News he thought CEO pay was “way out of whack”.
    

In order not to bankrupt the business, those on less than $70,000 now will receive a $5,000-per-year pay increase or an immediate minimum of $50,000, whichever is greater.
    

A spokesperson for the company said the average salary was currently $48,000, and the measure will see pay increase for about 70 members of staff.

    

...

“My pay is based on market rates and what it would take to replace me, and because of this growing inequality as a CEO that amount is really high. I make a crazy amount.
     

The New York Times, which was invited along for the Wolf of Wall Street-esque announcement, reported that after the cheering died down Mr Price shouted: “Is anyone else freaking out right now?”


Via Deb Nystrom, REVELN
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Deb Nystrom, REVELN's curator insight, April 15, 2015 5:34 PM

Now here's a guy who's sending out a big message about executive compensation, along with wage fairness.  This is beyond the thoughts I had shared about wage / pay and motivation, a 'la Frederik Herzberg.   ~  Deb

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How great leaders inspire action

Simon Sinek has a simple but powerful model for inspirational leadership all starting with a golden circle and the question "Why?" His examples include Apple, Martin Luther King, and the Wright brothers ...

Via Emeric Nectoux
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Emeric Nectoux's curator insight, February 8, 2014 12:14 AM

Now, I understand why, I always start with asking "Why?" and not "What?"...


TEDtalk by Simon Sinek

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The Three Types Of Leaders The World Needs Most: Artistic, Scientific and Interpersonal

The Three Types Of Leaders The World Needs Most: Artistic, Scientific and Interpersonal | School Psychology Tech | Scoop.it
Artistic leaders inspire by influencing perceptions. Scientific leaders guide and inspire by influencing knowledge. Interpersonal leaders rule, guide and inspire to influence behaviors

Via Anita, Emeric Nectoux
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Anita's curator insight, January 30, 2014 10:51 AM

Which type of leader are you?

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Leadership As We Know It Has to Change

Leadership As We Know It Has to Change | School Psychology Tech | Scoop.it

Supported by their community and the power of decentralized network, the new leaders navigate a world where curiosity, vision and adaptation are more necessary than convictions and authority.


Via Kenneth Mikkelsen, Emeric Nectoux
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Carol Carter's curator insight, January 31, 2014 3:26 PM

Thoughtful article every MBA should read and fully digest. The only way to remain powerful, is to empower the people you are tasked to lead. This has always been true. Now it's crucial.

Ivon Prefontaine's curator insight, February 1, 2014 6:30 PM

Leadership does have to change. What is interesting is that today, as I looked for dissertation materials on leadership, this idea of a leadership crisis is not new, Many authors and thinkers complained of the same thing in times past. The challenge might be the pace of change is so rapid it presents new challenges.

Jerry Busone's curator insight, February 24, 2014 10:36 AM

While I don't agree with the entire thought pattern here I do agree that Leaders reflect whats going on in our society. Leadership is going through one of its many changes over centuries of time. What once worked...won't tomorrow. Stay tuned....

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Are You Cut Out to Be a CEO? [Infographic]

Are You Cut Out to Be a CEO? [Infographic] | School Psychology Tech | Scoop.it
Learn what traits most CEOs have in common -- and see whether you might fit the bill for the position. (OMG : Average annual CEO pay is $12.3 million, including stocks, bonuses, and pensions.

Via FRANK FEATHER ~ Business Futurist, Emeric Nectoux
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FRANK FEATHER ~ Business Futurist's curator insight, February 7, 2014 2:29 PM

See (some of) what it takes to be a successful CEO.

Emeric Nectoux's curator insight, February 9, 2014 3:07 PM
Gives you (some of) what it takes to be a successful CEO.
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If You're Not Helping People Develop, You're Not Management Material

If You're Not Helping People Develop, You're Not Management Material | School Psychology Tech | Scoop.it
Facilitating employee learning should be a non-negotiable competency.


Skilled managers have never been more critical to the success of firms than they are today.  Not because employees can’t function without direction, but because managers play a vital role in talent management.


Via Emeric Nectoux
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Emeric Nectoux's curator insight, February 7, 2014 12:24 AM

Good managers attract candidates, drive performance, engagement and retention, and play a key role in maximizing employees’ contribution to the firm.


Poor managers, by contrast, are a drag on all of the above.  They cost your firm a ton of money in turnover costs and missed opportunities for employee contribution, and they do more damage than you realize.

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The Power of Gratitude in Your Workplace

The Power of Gratitude in Your Workplace | School Psychology Tech | Scoop.it
“We must find time to stop and thank the people who make a difference in our lives.” ― John F. Kennedy We all know the good feelings that come with being acknowledged for something …

Via Anne Leong, Ivon Prefontaine, Emeric Nectoux
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Ivon Prefontaine's curator insight, January 30, 2014 2:23 PM

When gratitude is expressed in a meaningful way, it adds to the meaning of the work being done. When it is just an add-on, it takes away.

Jerry Busone's curator insight, January 31, 2014 8:41 AM

Thank You ..two small words that magnify when used with people seeking recognition. reward your people and thank them for their work often...

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60 Reasons Leaders Stop Learning - Let's Grow Leaders

60 Reasons Leaders Stop Learning - Let's Grow Leaders | School Psychology Tech | Scoop.it

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The Learning Factor's curator insight, September 8, 2013 7:04 PM

Competent, lazy leaders are dangerous.


  • “Why fix something that’s working?”
  • “I was promoted to this position for a reason.”
  • “I’ve seen this movie before.”


Beware of highly skilled, non-learning leaders.

60 Reasons Leaders Stop Learning

This week, to kick off our last leg of the REAL model, Learning, I’ve been asking leaders across many contexts why leaders stop learning.  Here’s the top 60.  Don’t fall into these traps.  Be deliberate in your learning.  If you’re already a great leader, read more closely.  Leadership is never handled.

Don Cloud's curator insight, September 9, 2013 7:47 AM

In the spirit of self-awareness and optimism, this is an opportunity for leadership self-assessment and 60 opportunities to improve ones own leadership.