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Scooped by Deb Nystrom, REVELN
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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 | Change Leadership Watch | 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?”

Deb Nystrom, REVELN's insight:

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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Scooped by Deb Nystrom, REVELN
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Not Many Women Are Rising to the Top. Women Executives Seize the Day to Change That.

Not Many Women Are Rising to the Top. Women Executives Seize the Day to Change That. | Change Leadership Watch | Scoop.it

New research show how these top executives have taken charge of their careers.

     

It’s the responsibility of management to tackle gender diversity..[and]… evidence suggests that our leaders aren’t doing a very good job of it, at least not yet.


________________
 

[T]here’s no reason for an ambitious woman to sit on the sidelines and wait for her boss to get with the program. 

________________

     

Women still represent less than 5% of CEOs around the globe, and they remain seriously underrepresented in other top management positions and on executive boards.

     

[T]here’s no reason for an ambitious woman to sit on the sidelines and wait for her boss to get with the program.  … Lauren Ready concluded [this] from a study she did here at the International Consortium for Executive Development Research, in which she interviewed 60 top female executives from around the world to learn how they rose to the top.

   

For one, these executives take the time to explore what they want out of work and life [photo, chart.]

One byproduct…they pay special attention to how they might fit within a company’s culture.

    

This finding is consistent with research from Harvard professor Boris Groysberg, who’s found that while the performance of male stars falters when they switch companies, women continue to excel, in part because they’ve done their homework when it comes to fit.

   

The women in Ready’s study also understand the limits of fit. They aren’t “one of the guys” and they don’t try to be.


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Deb Nystrom, REVELN's insight:

It's still a man's world in the executive ranks, even in the college town where I live, the land of start-ups, women sparsely populate the fast growing, entrepreneurial executive ranks.  


It is also good to reach that the qualities listed in Ready's research among high-achieving women includes the urge to bring other women along with them.   It's a way ambitious women can "lean it" with a little help from her friends in high places, for the savvy reason that the executives "view [it] as a way to raise their companies’ market value, by boosting the presence of women in senior roles and in boardrooms."  


This brings hope that leadership will someday represent the world, rather than tradition and history in the leadership ranks.  ~  D 

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Scooped by Deb Nystrom, REVELN
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KSU prez gives up $90K of his own salary to give lowest-paid employees a raise

KSU prez gives up $90K of his own salary to give lowest-paid employees a raise | Change Leadership Watch | Scoop.it
"This is not a publicity stunt," he said. "You don't give up $90,000 for publicity. I did this for the people. This is something I've been thinking about from the very beginning."


The raise in pay for those employees will stay in place even after a new president is selected, he said. It will be the rate for all new hires as well. The change is immediate.


His salary, originally $349,869, is now $259,745.

Deb Nystrom, REVELN's insight:

The lead line for the article is, "Now this is leadership."  Perhaps the difference in his before and after salary, and his prior role with GE have inspired him to make an example that may inspire others.


When is a certain level of salary, house, home and possessions enough - so that those with wealth share it with those who struggle to make ends meet?


It reminds me of the video circulating about the homeless sharing their food and money that has been given to them recently, while the average American does not share when asked by someone for food or money.  ~  D

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Rescooped by Deb Nystrom, REVELN from New Work, New Livelihood, Careers
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I'm the Boss! Why Should I Care If You Like Me? Research Results on Executive Likability

I'm the Boss!  Why Should I Care If You Like Me?  Research Results on Executive Likability | Change Leadership Watch | Scoop.it

Bad news for mean bosses.  In a study of 51,836 leaders, we found just 27 who were rated at the bottom quartile in terms of likability but in the top quartile in terms of overall leadership effectiveness — that's approximately one out of 2,000.

360 data from these 50,000+ leaders highlighted seven key steps executives can take to substantially increase their likability.


Excerpted:

   


Increase positive emotional connections with others.... If a leader is angry or frustrated, those feelings will spread to others. Conversely, if a leader is positive and optimistic, those emotions also spread. Be aware of your emotional state and work to spread the positive emotions.

    

Display rock solid integrity. Do others trust you to keep your commitments and promises? Are others confident that you will be fair and do the right thing? 

   
Be a coach, mentor, and teacher. Most people have fond and positive memories of coaches and mentors. Helping others develop is a gift that is never forgotten.

Be an inspiration. Most leaders know very well how to drive for results. ...The most successful leaders ...also ...roll up their sleeves ...and pitch in with the team. They communicate powerfully. Inspiring leaders...are more likeable.


Deb Nystrom, REVELN's insight:

Also scooped to Careers and Self-Awareness Strength.  ~  Deb

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Deb Nystrom, REVELN's curator insight, August 6, 2013 4:05 PM

Like or dislike, integrity also connects to respect:  "Perhaps the surest test of an individual's integrity is his refusal to do or say anything that would damage his self-respect." ~ Thomas S. Monson

Manish Puranik's curator insight, August 7, 2013 1:32 AM

...The most successful leaders ...also ...roll up their sleeves ...and pitch in with the team. They communicate powerfully. Inspiring leaders...are more likeable...