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Sunday, May 20th
Pay pangs Prick Pundit OUR CORRESPONDENT New Delhi, Sept. 24: Pay disparties between chief executive and the shop floor workers are totally out of whack – both in the US and India. CEOs in the US usually get about 400 tiem the lowest paid blue-collared worker, in India, it is alosmist as bad as 300 times. “In India, the ratio is 1:300 between the salaries of the CEO and the shop-floor worker, according to an estimate we have drawn. The salay of an average shop- floor worker, according to an estimate we have drawn. The salary of an averge shop-floor worker is Rs 50,000 a month compared with Rs. 1.5 crore for CEOs of MNCs operating in India, “ says madhav Mehra dof theUK-based World Council of Corporate Governance . Last week, Infosys chairman Narayan Murthy suggested that the CEOs shouldn’t get more than 15 times the lowest paid worker in the company. Corporate honchos would probably blanch at Murthy’s prescription not everyobe is suggesting such a low multiple. But there’s a growing concern that greed at the top is severely compromising coporate ethics worldwide. Real wealth is created by innovationand can be achieved only when employees are motivated. In its absence, companies resort to window dressing to keep shareholders happy. Mehra also feels that Indian regulatory systems are strong but punishment isn’t severe enough. “Proper enforcement will help turn India into a fine destination for FDI.”
"Dr Madhav Mehra is a phenomenon, nothing describes him better."
Ola Ullsten, Former Prime Minister of Sweden at the 8th World Congress on Environment Management, Palampur, 2006"
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Dr Mehra, I just read your commentary on Satyam....You made one of the wisest observations on board failures I've ever read - "It is difficult to understand something when your salary depends on not understanding it".Brilliant!
Ralph Ward, Boardroom Insider
"Dr Madhav Mehra, has played a significant role to bring about a change in the mindset of the corporate world. India will remember him as a great pioneer who foresaw such a need and strove for inculcating a culture of quality in all spheres of activity."
S S H Rehman Executive Director, ITC Group of Hotels
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"I have known Dr Mehra for the last 8 years in my capacity as the Chairman of the Centre for Social Responsibility,..... Chairman of the S.M. Charitable Trust . I am amazed by the energy, enthusiasm and dedication that he brings to every idea he promotes."
P.N. Bhagwati, Former Chief Justice of India
"Rarely does one come across a legend like Madhav Mehra. I have witnessed his dedication everywhere: building community centres for gaddies of Dhauladhar, hospital and school for slum dwellers in Delhi and addressing corporates on the social role of their business."
Dr Sahib Singh, Ex-Chief Minister, speaking at SM Medical Centre, 13.04.04"
"Had Dr Madhav Mehra just been the founder of the IOD, that in itself would have been a piece of work tat the present and future generations would cherish. But by establising so many other organisations, he has really ensured that we respect him as a pioneering figure of all te good that Indian business is striving for."
Javed Husain, Professor and former Dean of Engineering
"Address of Dr Mehra was a unique experience. I aspire to listen to him again and wish Dr Mehra can find time to address youth in the colleges."
MK Yadav, Hindustan Zinc LTD
"Dr Mehra has given a unique dimension to CSR. His interpretation is particularly relevant to us and we must invite him once again to address our top executives"
Hon'ble Carlton Davis, head of Jamaica's Civil Service"
"Dr Mehra's passion comes alive from his speeches"
Uma Arora, Chairman Idam Learning
"Dr Madhav Mehra's keynote address was the most thought provoking"
N A Patil & R B Rajpune
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