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Wealth Professional | 19 Feb 2016, 08:15 AM Agree 0
Company stops pay rises for wealth group arm despite U-turn on policy to introduce pay freeze
  • Mark Matsumoto | 19 Feb 2016, 12:21 PM Agree 0
    I think that pay should be variable based on people's abilities and supply and demand for these abilities. Just because a company or organization has the ability to pay doesn't mean that it should have to share or pay its employees more than the market rate for someone with their same skill set.

    Employers should be able to fire people without fear of huge severance and legal costs. This would make it easier to hire people and make the economy run much smoother.

    Too many people feel entitled and overvalue their worth. We're just cogs in the machine. We're needed, but we're not as special as we would like to think.

    How many employees can go out and replace their income based on their abilities? How many people can demand their current pay based on themselves only and not as part of a group? Those people are fairly paid. Everyone else is probably overpaid.

    Constant wage increases is not reflective of people's ability, ongoing changes and results in workers being over paid given the supply and demand for their skills. Being overpaid reduces your job mobility because you can't leave because you can't replace your income anywhere else. This makes you feel stuck.

    Constant increases makes companies less competitive and more likely to move or just be inefficient like governments or places with strong unions.

    Why do so many people want government jobs? If they cut the pay by 50%, would they still be able to fill all of their positions? If they cut by 25% how many vacancies? Should the overpaid people of the world get constant increases? If it weren't for their unions, many governments and agencies could probably make dramatic cuts in payroll costs.

    Why have so many places/industries with strong unions shut down or moved away? Doesn't this imply that constant pay raises result in overpaying and killing of the companies unless they have taxing powers over everyone?
    I think that supply and demand should have more influence on pay. I am not in favour of constant wage increases.
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