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高管的薪酬憑什么比你多300倍,?

Sarah Anderson
2019-05-15

大型公司首席執(zhí)行官的薪酬是車間員工薪資的數(shù)百倍,,公司內(nèi)部的這種極端不平衡不僅僅只是公平性的問(wèn)題,,而且也會(huì)給企業(yè)帶來(lái)負(fù)面影響。

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圖片來(lái)源:Getty Images/Ikon Images

本周,我得到一個(gè)“霸凌者”的稱號(hào),。

之所以得到這個(gè)稱號(hào),,原因在于美國(guó)證券交易委員會(huì)在周三投票通過(guò)了要求公司披露首席執(zhí)行官與員工薪酬差距的法規(guī)。委員們的投票結(jié)果與黨派比例一致——3:2,。

在一項(xiàng)異議聲明中,,證券交易委員會(huì)的共和黨委員邁克爾·皮窩沃表示,他的同事“對(duì)于霸凌現(xiàn)象持默許態(tài)度”,。

如果說(shuō)支持披露首席執(zhí)行官-員工之間的薪酬差距都能夠讓人成為霸凌者的話,,那么我算是其中一個(gè)。大型公司首席執(zhí)行官的薪酬是車間員工薪資的數(shù)百倍,,多年來(lái),,我一直認(rèn)為公司內(nèi)部的這種極端不平衡不僅僅只是公平性的問(wèn)題,而且也會(huì)給企業(yè)帶來(lái)負(fù)面影響,。

例如,,斯坦福大學(xué)對(duì)多個(gè)調(diào)查的評(píng)估發(fā)現(xiàn),頂層和底層員工巨大的薪資差距可能會(huì)打擊雇員的士氣和工作滿意度,。CtW Investment Group對(duì)標(biāo)普500公司的分析顯示,,首席執(zhí)行官-員工薪資比值估值較大的企業(yè)在五年期內(nèi)的股東回報(bào)率要低于那些估值低的企業(yè)。

2010年,,多德-弗蘭克金融改革將首席執(zhí)行官-員工薪資比率披露寫入了美國(guó)的法律,。但五年以來(lái),證券交易委員會(huì)的官員在面臨激烈反對(duì)的情況下,,對(duì)于法規(guī)的實(shí)施一拖再拖,。

企業(yè)說(shuō)客組織和同一陣營(yíng)的決策者們一直在不遺余力地阻撓或架空這一規(guī)定。有時(shí)候,,我不得不承認(rèn),,我也曾經(jīng)用過(guò)不怎么中聽(tīng)的言語(yǔ)來(lái)還擊其攻擊。

例如去年,,美國(guó)商會(huì)發(fā)布了一項(xiàng)調(diào)查,稱大型公司平均得耗費(fèi)311800美元以及1825小時(shí)的時(shí)間來(lái)計(jì)算器員工薪酬中間值,。我忍不住想要執(zhí)筆為這些 “拖沓而又昂貴的會(huì)計(jì)” 寫一封假招聘廣告,。這些公司從哪里弄來(lái)的上述荒唐數(shù)據(jù)?

當(dāng)然,,我并非是唯一一個(gè)在這一方面異常吝嗇之人,。證券交易委員會(huì)就這個(gè)問(wèn)題收到了28.74萬(wàn)封評(píng)論函,絕大多數(shù)都對(duì)此表示支持,。

皮窩沃在其異議聲明結(jié)尾還提醒人們吸取有關(guān)校園霸凌事件的教訓(xùn),。他說(shuō):“默許只會(huì)助長(zhǎng)霸凌者的氣焰,。”

這一點(diǎn)確實(shí)有道理,。那些提倡薪酬差距披露的人的確會(huì)利用這場(chǎng)勝利來(lái)提出更多的要求,。具體來(lái)說(shuō),新聯(lián)邦法規(guī)將幫助我們推廣國(guó)家層面的動(dòng)議,,以便通過(guò)公共資金的力量來(lái)提升披露的吸引力,。

例如,羅德島州參議院法案規(guī)定,,對(duì)于首席執(zhí)行官與員工薪資中值比例低于25:1的公司,,在申請(qǐng)政府項(xiàng)目時(shí)會(huì)獲得優(yōu)惠。這一基準(zhǔn)源于管理學(xué)之父皮特·德拉科,,他認(rèn)為高管-員工的薪酬比例高過(guò)20:1之后就會(huì)有損公司的士氣和生產(chǎn)力,。

依據(jù)這一法律,競(jìng)爭(zhēng)州政府項(xiàng)目的公司可以通過(guò)降低其薪酬差距來(lái)改善其中標(biāo)機(jī)會(huì),,它們可以降低高管薪酬,,或提升其最底層員工的薪資水平。不管采取哪種方式,,羅德島納稅者的錢會(huì)發(fā)揮更大的效用,,因?yàn)樾劫Y差距的縮小有可能會(huì)提升生產(chǎn)力。稅收政策可能也會(huì)通過(guò)為低薪資差距公司提供更低的稅率,,來(lái)獎(jiǎng)勵(lì)薪資差距更公平的企業(yè),。

有人認(rèn)為自己是這場(chǎng)所謂的薪資差距“霸凌”現(xiàn)象的犧牲者,而且他們并非只是停留在向主管方抱怨,。就在證券交易委員會(huì)投票數(shù)小時(shí)之后,,眾議院金融服務(wù)委員會(huì)主席杰布·亨薩林(德州共和黨)宣布一項(xiàng)法案投票計(jì)劃,旨在廢除多德-弗蘭克法案中的這一部分內(nèi)容,。

那些薪酬過(guò)高的首席執(zhí)行官似乎依然在鼓動(dòng)其在國(guó)會(huì)的大哥,,盡其所能地讓這些恃強(qiáng)凌弱的大壞蛋知難而退。然而,,一旦角斗上演,,真正會(huì)黑著眼圈離場(chǎng)的將是那些企業(yè)高管。(財(cái)富中文網(wǎng))

薩拉·安德森在政策研究所主持一個(gè)全球經(jīng)濟(jì)項(xiàng)目,。

譯者:馮豐

審校:夏林

This week I got called a bully.

What provoked the name-calling was a Securities and Exchange Commission vote on Wednesday to adopt regulations requiring corporations to disclose the gap between what they pay their CEO and their workers. The commissioners voted 3 to 2 along straight party lines.

In a dissenting statement, SEC Republican Commissioner Michael Piwowar said his colleagues were “acquiescing to bullies.”

If supporting CEO-worker pay ratio disclosure makes you a bully, then count me among them. For many years, I’ve argued that extreme inequality within firms, with big company CEOs making hundreds of times more than shop floor employees, is not just grossly unfair. It’s also bad for business.

A Stanford University review of several studies, for instance, found that highly differentiated pay between top and bottom earners tends to reduce employee morale and job satisfaction. A CtW Investment Group analysis of S&P 500 companies indicated that those with high estimated CEO-worker pay ratios had lower shareholder returns over a five-year period than companies with low CEO-pay ratios.

In 2010, the Dodd-Frank financial reform made CEO-worker pay ratio disclosure the law of the land. But for five years, in the face of intense opposition, SEC officials have dragged their feet on implementation.

Corporate lobby groups and allied lawmakers have been bent on blocking or gutting the rule. And there were times, I must admit, when I responded to their attacks in a less than kindly manner.

Last year, for example, the U.S. Chamber of Commerce published a study claiming large companies would be forced to shell out an average of $311,800 and crunch numbers for 1,825 hours to calculate their median worker pay. I couldn’t resist penning a phony help wanted ad for “slow and expensive accountants.” How else could these companies back up such absurd numbers?

Of course I’m not the only big meanie. The SEC received more than 287,400 public comment letters on this issue, an overwhelming majority of which were supportive.

At the end of his dissenting statement, Commissioner Piwowar reminded us of schoolyard lessons about bullies. “Acquiescing,” he said, “only gives them more ammunition.”

Here he does have a point. Those of us who’ve advocated for CEO-worker pay disclosure will indeed be using this victory to push for more. Specifically, this new federal rule will help us promote state-level initiatives to add extra oomph to disclosure by tapping the power of the public purse.

A Rhode Island state senate bill, for example, would give preferential treatment in the awarding of government contracts to firms that have gaps between CEO and median worker pay of no more than 25 to 1. This benchmark was inspired by Peter Drucker, known as the Father of Management Science, who believed the ratio of pay between worker and executive can run no higher than 20-to-1 without damaging company morale and productivity.

Under this legislation, companies competing for state contracts could improve their chances by reducing their pay gaps — either by lowering executive compensation or lifting up wages at the bottom of their pay scale. Either way, Rhode Island taxpayers would get a bigger bang for their buck, since narrower wage divides are likely to boost productivity. Tax policy could also reward companies with more equitable pay practices by offering lower rates for narrower gaps.

Those who imagine themselves to be the victims of all this so-called bullying on pay gaps are not just running home to mommy. Within hours of the SEC vote, House Financial Services Committee Chair Jeb Hensarling (R-TX) announced plans for a vote on a bill to repeal this section of Dodd-Frank. Similar legislation has been introduced in the Senate.

Overpaid CEOs, it seems, are still turning to their big brothers in Congress to try to scare off the big bad bullies. But in dragging out this fight, the corporate chiefs are the ones who will be left with the black eyes.

Sarah Anderson directs the Global Economy Project at the Institute for Policy Studies.

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