Then why has no one been “rewarded” for huge amounts of productivity increases since the 70s?
Oh. Right. They “rewarded” the CEO greedclass
this post was submitted on 17 Aug 2023
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And Ruling Class! They got Bank too.
I guess he's supporting giving himself a big paycut then
I think he owes us.
Ok. How far back should we go? I'm feeling the 1970s and go from there. Oh lokkie here it shows that the poor and middle class have doubled their productivity. Oh wait wages have been effectively slashed? Hmm.
So NHS workers after COVID should be on a fair whack then
I agree that productivity should be rewarded, but that's not what happens. If you work hard, the company will realise that they can get the same work done with fewer employees and will reduce work hours to increase profits instead of rewarding you.
Should a real terms pay cut be accompanied by a compensatory drop in productivity? I think it’s called quiet quitting or something…
Quiet Quitting is doing only what was paid for and no more. Thus crap pay results in crap output.
Doing your job and nothing more has been called coasting for decades, but apparently some blogger made a stupid new term that doesn't involve being quiet or quitting and that is what will be used from now on.
Pay raises for productivity is fine, but you also need raises for cost of living increases.
More importantly, as a centralized bank economy, it’s the government’s fault inflation exists and it is their responsibility, as and employer and monitor of inflation, to make their employees while every year. If productivity increases, that should be paid on top of pay maintenance.
The government doesn't have any responsibility for you, it's not there to serve you. It's there to govern you and make sure you stay in line.
This is the dumbest opinion I've heard in a while. So the government = prison guard.
I mean analytically the comment is somewhat correct, the government in most of the world doesn't actually, take responsibility for you and doesn't adequately care for it's citizens despite claiming to be from the people for the people. Liberal government doesn't really work for the people, it works for the owning class.
Yes. Like it ever was different in any country.
Christ you sound like you like it that way.
Is this the basis for MPs pay rises then?
If Rishi Sunak told me the sky was blue, I'd look up to make sure. Scumbag.
We got that system in the US. I just got my review. Boss says I did great, mentions a couple areas I excelled in. Shows me the review. Everything rated straight down the middle. Turns out when it comes to paying me more, I'm just a medium/ok worker.
Well, if it's any consolation, I imagine that there are lots of companies out there who would be more than willing to pay you what you're worth.
Pay rises are supposed compensate for the inflation caused by your incompetent government, mate.
This is the best summary I could come up with:
Sunak’s comments come after Bank of England governor Andrew Bailey expressed concerns that pay increases were fuelling inflation.
The Bank of England is now under renewed pressure to raise interest rates next month after wages jumped more than expected in June, boosted by a one-off payment to NHS workers.
However, amid recent inflation and rising interest rates, trade unions have taken issue with the apparent blame attached by Bailey and others to wage demands by low and middle earners.
The Trades Union Congress (TUC) general secretary, Paul Nowak, said on Tuesday: “Real wages are still worth less today than in 2008 after the longest pay squeeze in 200 years.
An analysis in June by the TUC also found that pay rises for the top 10% of UK earners, including City bosses, had clearly outstripped the rest of the workforce and had been a prime driver of recent inflation and interest rates.
Sunak trumpeted the public sector pay offers that the government had extended to NHS workers, teachers and others and called for an an end to industrial action by doctors.
I'm a bot and I'm open source!
In his case, being so incredibly shit and inept, he should be paying billions back then. This duplicitous twat should just fuck off.
but something tells me that's not what he means
Interesting chart. I think it comes from this article on why here
This article is so slimy. Sustainable here really means in relation to the fiduciary responsibility to the board. To use another C-suite term, the sustainable pay rise is often immaterial.
Fuck Billionaires lol
I'm far from an expert on this but I thought that an increase in productivity was the end result of multiple things coming together. Investment, training, a strong economy etc etc??
Let this apply to CEOs and top management too, then.
Rich coming from him eh
Do we start measuring productivity today or since the 1950s because one person on a PC or crane at a harbour replaced a crap load of staff in an office or dockyard - that seems Helland productive.