The ethics of Australian executive remuneration packages  

Oleh:

Woldring, Klaas

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Business Ethics vol. 14 no. 11 (Nov. 1995), page 937.
Topik: Ethics; Australian Executive; Remuneration Packages; Unemployment; Staff Morale

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB27.23 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This article raises the issue of growing inequalities in remuneration in Australia at a time of severe economic recession. The salary packages of the CEOs and senior managers of large Australian companies have been increased substantially in recent years often in spite of poor performance of the companies. At the same time real wages have either stagnated or, according to some researchers, have fallen in the same period. In addition unemployment has risen to unprecedented high levels (above 11%). The ethics of such growing differentials are rarely addressed in the literature on compensation. It is mooted that the lack of ethical scrutiny affects staff morale and performance by non-managerial employees adversely. It tends to make a mockery of the philosophy of performance-based pay and the concept of appointment and promotion on the basis of merit. Without suggesting a widespread breakdown in norms and standards in Australia this article does question the quality of Australian management and raises the issue of appropriate corrections. Studies about the need for a new direction in management education and into the role of the Boards of Directors, their competence and functions have been conducted and others are in train. These suggest a preference for piecemeal reforms while, perhaps, more drastic measures are required.

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