I’m not against anyone getting a raise for their hard work, or even as a fixed index against the inflation rate. The more money we have, the more we spend, and the more we spend, the more businesses profit. When businesses make a profit, they grow and hire more people, who in turn become awesome consumers because those who are unemployed make really lousy consumers.
What I am against is when only one segment of the workforce gets a raise and the rest does not, even though everyone involved worked their keisters off. I’m talking about the 1%. I’m talking about, as stated in this article from the Toronto Sun, those CEOs who will earn 195 times what the average Canadian worker earns.
I’m not saying CEOs are lazy. I believe they work hard at what they do and the responsibilities they have to bear must be very stressful. I am in full agreement they are tasked to make major decisions that can affect the future of a company and have to take a significant hit their work-life balance. They are not the bad guys.
Having said this, they alone did not make the business a success. They were not the boots-on-the-ground force that made the money. Such credit goes to the managers beneath them, straight on down to the front-line employees who earn a fraction of what the CEO earns annually, and did not get a raise for their share of the hard work.
I should also point out that some of those profitable business decisions the CEOs made also laid off a lot of people, with no thanks for their hard work. They put additional responsibilities on those still employed since they are now doing the work of those who were laid off. They took jobs out of Canada by recruiting cheap labour overseas. They dumped low-quality products and services on the market, resulting in an increase in environmental waste. They put an end to job-mentoring and entry-level positions for our young people to get their career started. They ended some corporate support to schools and charities.
I’m sure all the things they did, including what I mentioned above, was worth their raise. Whether they are proud of their track record that got them that coveted raise is the question that I’ll let these CEOs sleep on before answering.
Thanks for reading!