>>>
>>> IT
>>> IT IS
>>> IT IS AN INTERESTING TIME IN AMERICA RIGHT NOW.
WORKERS HAVE SLOW TO
NONEXISTENT SALARY INCREASES
AND THE ISSUE OF EQUAL PAY.
THE WAGE GAP VARIES BY
OCCUPATION BUT MANY FEEL THAT
THE GOLF CAN BE HUGE,
ESPECIALLY AT THE EXECUTIVE
LEVEL.
LEVEL.
LEVEL. WE
LEVEL. WE SPOKE TO GARBER SABLE AND
SEAN CHOW ABOUT THIS HOTLY
DEBATED TOPIC.
DEBATED TOPIC. >> BUSINESSES FEEL A SENSE OF
URGENCY TO REVEAL MORE AND BE
MORE TRANSPARENT IN REGARD TO
PAY.
PAY.
PAY. >>
PAY. >> I
PAY. >> I THINK MO -- MORE SEA LEVEL
EXECUTIVES ARE BEING CALL TO
ACTION TO MAKE SURE WE PUT MORE
WOMEN IN EXECUTIVE ROLES.
AND THE CORRECT TERM IS
CONSCIOUS INCLUSION.
CONSCIOUS INCLUSION. INCLUDING EVERYONE IN THE
TALENT WITHIN THE TEAM.
FINDING BETTER WAYS TO MENTOR
AND BRIDGE THAT GENDER GAP THAT
WE CURRENTLY HAVE.
BRINGING THEM CLOSER AND CLOSER
TOGETHER.
TOGETHER.
TOGETHER. >> MAKING $.80 FOR EVERY DOLLAR
THAT A MAN MAKES, THAT IS A BIG
GAP AND IT ADDS UP
>> THAT IS A HUGE GAP.
WE DID A STUDY BETWEEN THOSE
THAT WERE 24 AND 38 YEARS OF
AGE AND WE HAVE SEEN THAT THE
GAP IS 90 PERCENT.
THERE IS HOPE FOR THE GENDER
PARITY TO COME TO A CLOSE.
>> A LOT OF CEOS ARE MAKING A
LOT OF MONEY AND THERE ARE
QUESTIONS AS TO WHETHER IT IS
RIGHT, WHETHER IT IS TOO MUCH.
WHAT IS ENOUGH?
WHAT DO YOU FIND?
>> BASICALLY WE SPEND TIME ON
THE EFFICIENCY OF CONTRACTING.
THE SECRETARY HAS REALIZED HOW
CEOS SHOULD BE PAID SO THERE'S
A NEW RULE WHICH IS ISSUED IN
2006.
2006.
2006. FIRMS HAVE TO MANDATE THAT THE
DISCLOSURE OF THE CEO
COMPENSATION.
COMPENSATION. THAT HELPS A LOT FOR INVESTORS
TO MONITOR THE CEO COMPENSATION.
NOW YOU CAN EXACTLY SEE HOW THE
CEO IS PAID BASED ON THE STOCK
PRICE OR BASED ON THEIR
EARNINGS PERFORMANCE.
EARNINGS PERFORMANCE. IT IS PAID BY OPTIONS.
TO OUR SHAREHOLDERS WANTING TO
WEIGH IN MORE ON WHAT
COMPENSATION THERE CEOS ARE
MAKING?
MAKING?
MAKING? >> AN IMPORTANT FACTOR WHEN
BOARD TRYING TO DECIDE THE
COMPENSATION.
COMPENSATION. THE FIRST ONE IS PAY FOR
PERFORMANCE.
PERFORMANCE. IF THE CEO IS DOING WELL, THEY
BRING THE FIRM BETTER THAN LAST
YEAR THEY SHOULD BE PAID MORE.
WE WANT TO PAY CEO TO RETAIN
THEM.
THEM.
THEM. RETENTION.
RETENTION. THAT'S BECAUSE SOMETIMES THE
INDUSTRY IS DOING WELL, COME
PAINTING FIRMS -- COMPETING
FIRMS WILL NOT MAKE ACTUAL
EFFORT.
EFFORT.
EFFORT. IN THAT CASE, SHOULD WE
COMPENSATE CEO MORE? EVEN IF
THEY'RE NOT MAKING EXTRA
EFFORT.
EFFORT.
EFFORT. SOMETIMES WE HAVE TO BECAUSE IF
YOU DON'T PAY THEM OR, THEY
WILL BE HIRED BY COMPETING
FIRMS.
FIRMS.
FIRMS. >>
FIRMS. >> AND THEY WOULD LEAVE.
>> WE HAVE TO PAY THEM TO SOME
DEGREE NOT BASED ON THEIR
PERFORMANCE FOR AMAZON, THERE
WAS A RECENT SURVEY ABOUT HOW
THE MEDIAN SALARY WAS $29,000.
JEFF BEZOS IS NOW THE RICHEST
MAN AND I DON'T WANT TO SOUND
THE PLANET BUT --
>> IT MAY BE CLOSE.
>> THAT IS QUITE A DISPARITY.
>> TAKING INTO ACCOUNT, I DO A
LOT WITH THAT SECTOR OF
BUSINESS.
BUSINESS.
BUSINESS. THERE IS MANUFACTURING AND e-
COMMERCE CENTERS.
COMMERCE CENTERS. THEY ARE BECOMING MORE AND MORE
MAINSTREAM.
MAINSTREAM. ALSO LIKE HE WAS SAYING ABOUT
THE BIG GAP.
YOU HAVE THESE ENTRY-LEVEL
POSITIONS COMING IN, IT IS
BECOME HARDER AND HARDER TO
BRING IN THOSE PEOPLE AND
RETAIN THEM.
RETAIN THEM. THAT IS DRIVING WAGES UP.
THEN THAT MIDDLE PERSON ON THE
GROUND, DOESN'T EVEN HAVE THE
SKILLS YET BECAUSE OF ALL THE
DEVELOPING TECHNOLOGY AND THE
SKILLS THAT ARE NECESSARY.
THEY ARE TAKING ON A LOT OF
AUTOMATION HAPPENING.
AUTOMATION HAPPENING. SO NOW THAT IS BECOMING A HUGE
SKILL GAP, EXACTLY WHAT YOU
WERE SAYING BETWEEN THE PERSON
COMING IN ENTRY-LEVEL AND NOW
THOSE WELL-TRAINED EXECUTIVE
LEVEL AND PEOPLE THAT NEED TO
OPERATE THAT TYPE OF MACHINERY.
I AM SINGERS A LOT OF TRENTON
COMPANIES, KNOW THAT MANPOWER
IS DOING THAT, WITH THE UPPER
WORKFORCE, MAKING SURE THAT WE
CAN TRAIN PEOPLE TO DO THOSE
JOBS AND BE ABLE TO TAKE CARE
OF THAT AUTOMATION PIECE, OF
BRIDGING THE TECHNOLOGY SKILL
GAP.
GAP.
GAP. THEY
GAP. THEY ARE WORKING WITH EMPLOYERS
HAND-IN-HAND TO MAKE SURE THAT
THE GAP IS GETTING BIGGER AND
BEING ADDRESSED.
BEING ADDRESSED. THEY ARE TRAINING IN THE
SCHOOLS AND SOME COMPANIES HAVE