With the economy still in crisis mode, the wailing of the 99% continues unabated as “retention” bonuses - money being paid to keep employees from jumping ship - continue to be awarded whether the company is doing well or not.
According to Bloomberg, a compensation consultant for Best Buy planted the pay-for-performance flag in the sand by quitting after the electronics chain awarded more than 100 managers retention bonuses without tying them to performance. Best Buy Pay Expert Said to Quit Over Retention Bonuses - Bloomberg.
It’s an election year and business is understandably nervous about what the continuation of the old administration of the transition to the new one will mean.
No matter who wins - and I’m talking not just the Presidential but also the Congressional races - government is going to start looking for an end to the endless jobless recovery.
Tying executive and management pay to performance rather than fear that they’ll lose their managers is irrational and incomprehensible at a time when the streets are filled with highly qualified unemployed candidates.
Look for more Best Buy-type defections, which are strong messages to corporate boards that “things as they were” are not and cannot become “things as they will be.”
That’s what we here at She Negotiates are hoping for. Stagnated wages for the working woman and rising wages for management cannot, should not, co-exist.