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The Compensation, Benefits, and Pension for Bank CEOs in Canada - Research Paper Example

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This research paper makes use of compensation, benefits, and pension for bank CEOs in Canada. The research process utilizes secondary sources of data by making use of recent peer-reviewed articles. The articles form the basis of the argument…
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Download file to see previous pages Organizations are duty-bound to fulfill the aspirations demanded by shareholders by increasing the efficiency of production and profitability. The chief executive officers have high managerial powers to steer the organization to success and as such, the compensation, benefits, and pension for the CEOs continue to decline due to the pressure from shareholders calling for the reduction of total pay for chief executive officers. The rationale for this new trend premises on the assumption that chief executive officers should not earn more than the average working citizens as both of them take part in the production process. Since the early 1990s, most banks in Canada adopted austerity measures as a way of reducing the ballooning wage bill, which cuts down the annual dividends for shareholders. In the words of Gregory-Smith, Thompson and Wright (2014), organizations such as banks prefer to hire consultancy services from reputable firms to enable them plan for the unprecedented pressure on benefits plan, employee compensation, and pension. Thus, the contemporary trend for CEO compensation is premised on the stakeholder theory, which assumes that the chief executive officer of an organization must respond to all stakeholders of the organization who include shareholders, customers, owners, society, and employees. In addition, the current trend for bank CEO compensation encompasses the improvement of the bank’s financial position, improved labor relations, and high levels of customer satisfaction.

The study will seek to add knowledge to the existing literature concerning the compensation packages for high-ranking organizational employees. In addition, the analysis of literature from the latest peer-reviewed articles will provide a much-needed framework for the appraisal of the reasons why CEOs earn more than what the average employees take home as salaries. Therefore, the study will make use of five peer-reviewed articles as a means of drawing scholarly attention to the topic. ...Download file to see next pagesRead More
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