Why not $160 an hour?
And as of Jan 21st he’s cutting his compensation to no more than the equivalent of $20.00/hr. Right? No? Weird huh.
Why not $100 an hour, an all expense paid trip to Dineyland, complete healthcare package with an IRA plan thrown in so we can pay $20 for a Happy Meal?
This is Aetna trying to be the last insurance company standing after obamacare destroys the insurance industry.
What do you mean "put them into poverty"? Where were they before you hired them?
You've said more than you realize Mr. CEO. The sad truth is it pays more to be on government subsistence than it does to work for a living.
After overhead and profit are added the now middle class would become the new poor.
A socialization of risk/irresponsibility socialist has a plan? Go figure. Let’s charge more for our scam BUMP!
Huh???? By giving them a job and offering them the opportunity to EARN a living, aren't you in fact lifting them OUT of poverty? How much more would they be earning if they had no job at ALL?
And this birdbrain is a CEO????
Pay everyone at the company the same rate he is getting.....
Aetna Chairman and CEO Mark T. Bertolini’s compensation last year was less than one-fourth the pay package he received in 2012, according to documents filed Tuesday with the U.S. Securities and Exchange Commission.
Bertolini was compensated $8.26 million last year, down from $36.36 million in 2012.
His 2013 compensation includes $996,169 salary, $1.38 million in non-equity incentive pay, $283,385 in “other compensation,” $4.52 million in value realized on exercising options and $1.08 million in value realized on stock vested.
Additionally, Bertolini received stock-and-option awards valued at $28 million when they were distributed last year, which will provide value in the future and depend on the company’s performance.
And that person is a CEO. He is a stupid and ignorant individual.
That’s his business. If he, as CEO, wants to pay each worker some guaranteed minimum salary — no matter where they live — he can do it. Time will tell whether its smart (like Henry Ford) or stupid.
Aetna is making a huge amount of money off Obamacare. At the expense of its customers, of course. Aetna doesn’t need to save on wage expense. That’s why its customers exist - to maintain Aetna employees in the lifestyles to which they have become accustomed.
Fair is paying the employee commensurate with the values of his/her production.
Paying more than the value of those efforts is harmful to the company and unsustainable unless other employees are paid less than the value of their work.
So paying an employee more than the value of their work is unfair to other workers or corporate suicide.
So the board of directors or the stockholders should demand of Mr. Bertolini an explanation of this pay raise for the company’s low wage workers. Were these employees paid less than their worth in the past (unlikely) or are they being paid more than their worth now (more likely).
Regardless it is not the typical responsibility of a CEO to determine the wages of the lowest level employees. The man is stepping out of his role which is something very dangerous for a manager to do.
Bookmark this to reference in the thread that comes after Aetna announces massive layoffs and restructuring.
pay a higher wage and get better employees, expect more from your current employees and get good PR for prospective clients...Capitalism at work
There are substantial benefits in paying higher than the minimum or even the prevailing wage.
You will get many more applicants, and from those you can choose the best.
Of course, you have to find a way to use their higher productivity, or you have to raise your price — unless your customers are not sensitive to prices.
Does Aetna do outsourcing, so that lower end jobs are actually costing them much less per hour?
A mandatory minimum wage costs jobs one way or another.
I (unfortunately) have Aetna insurance - not my choice. Every time I call in to Aetna I get a person who is only vaguely familiar with the English language. Ebonics is their first language and they are typically in Kentucky or Phoenix. If they are making $16/hr then Atena is run by idiots(I already knew that. This OP only proves it again).
As an aside tidbit, what AETNA does that they don’t tell you about (and I’m sure every other health insurance company does), is USE a “health rating” company to get around the Health Privacy Laws. This is similar to a credit rating and ought to scare the crap out of everyone. I found out about this from an AETNA employee when I was trying to get insurance as COBRA was way too expensive for an unemployed, just divorced, full-time stay-at-home-mom with 4 minor kids.
My doctor had prescribed a drug, for an off-label use. I paid CASH. No insurance involved. Either of three places that I used for prescriptions, fed this drug info to a database: Walgreens, CVS or Target. When I was trying to get insurance, the three agents I had spoke to kept insisting to ME that I had diabetes, which I did NOT and never had, and had repeatedly every year had a glucose test that was fine. The fourth AETNA agent slipped up and admitted why, because their info said that in 2006 I had taken (fill in the blank) drug, which one of the uses is diabetes. I asked after being shocked at the info, how the hell did they have that info as I had NEVER BEEN INSURED BY AETNA AND HAD NEVER USED INSURANCE FOR THAT ONE-TIME PRESCRIPTION, and I HAD PAID CAST. She (AETNA) then told me about their “health rating” database that they subscribe too and how it doesn’t violate the health privacy laws. This was around 2008 or so.
Minimum wage employees are not victims of anything except themselves. If you don't like your place in life (and why is it the example trotted out is a 15 year employee of McDonalds!) get a real job.
And if you can't? Your employer is providing a job to someone who would otherwise be unemployable.