Quote:
Originally Posted by Unregistered
Mr Ang explains this transparency deficit as prompted by the need to retain talent.
"We haven't even thought of (revealing numbers)," he says. "If we are too transparent, it creates unhealthy competition. The remuneration committee knows all the numbers but if you and I start comparing, it creates unhealthy competition. It makes people want to join particular firms just for the money."
s://.straitstimes.com/business/invest/patrick-angs-setting-rajah-and-tann-for-life-after-45
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Mr Ang explains this transparency deficit as prompted by the fear of talent leaving for greener pastures.
"We haven't even thought of being transparent with salary information," he says. "If we are opaque, it allows us to underpay our underlings. The remuneration committee knows all the dirty secrets but if you and I start comparing, it reveals the unhealthy pay gap. It makes the sweatshops lose their underlings who want to jump to more equitable firms just for the fairer treatment."