- James Gallarda
- Boston, MA
- United States
Executive Director, Novartis
Top tier employees should for 1 year offer a pro-rated percentage of their total income for increasing the number of lower tiered employees
Note: although this idea is US-centric, the author's intention is to see if it might be generally transportable across national boundaries....
In the Sunday, Sept 4 2011 NY Times, Robert Reich offered an opinion asserting "If wealth is not more widely shared, the economy will never produce enough jobs". In an associated figure, from 1980-Present, the top fifth earners' income gains rose 55%, while the bottom fifth declined 7%.
In the same issue, Starbucks CEO, Howard Schultz, published a full-page "Letter to Concerned Americans" encouraging business leaders to "do all we can to break the cycle of economic uncertainty that grips our country by committing to accelerate investment in jobs and hiring".
Since company human resource departments know that effective objectives often include "SMART" criteria (i.e. they are Specific, Measurable, Actionable, Relevant, Timely), why not put this SMART idea to the test? What impact might this make in reducing unemployment? Could the model be transportable in other countries?
Where to start:
1) Top 20% earners voluntarily offer 5% to 1% (pro-rated across band) of their current compensation.
2) Monies reallocated directly to new hire program with participating companies quantitating their job creation with an independent agency
3) Participating companies profiled weekly in the national media, along the lines of ABC News "Made in America" series
Just an idea. Can the talented TED's readership improve upon it?