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Coca-Cola will link executive pay to company employees

Coca-Cola | March 10, 2020

Coca-Cola will consider the wages it pays all of its employees when setting executive salaries, aiming to bring them into closer alignment, the New York State Common Retirement Fund said in a statement. Following the agreement with the beverage giant, the fund, which is among the company's top 50 shareholders with 9,275,387 shares as of the end of 2019, withdrew a shareholder resolution against the company. Coca-Cola agreed to add language to its upcoming proxy statement that said "the compensation approach used to set CEO and (named executive) pay" would be the same one it uses to determine compensation for the broader workforce. The New York State Common Retirement Fund said CEO pay at the largest U.S. companies "has risen dramatically," while average wages, adjusted for inflation, "have made only meager gains." The fund said some figures show the pay ratio between CEOs and the typical worker has increased by nearly 1,400%.

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HR’s Role in Linking Personal, Employment, and Leadership Branding

In the not too distant past, a person’s cover letter and resume were the first and frequently only hurdle to get an applicant’s foot in an employer’s door. The hiring manager would scan these documents for skill fit and work experience, and then place them in an “in” pile or toss them in the “round file.” Applicants lucky enough to get their resumes into the “in” pile would get a phone call and possibly an interview. Cover letters and resumes were vital because they were frequently the only readily available information a hiring manager could find about an applicant. Today, with the rise of social media, all of that has changed.

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Spotlight

HR’s Role in Linking Personal, Employment, and Leadership Branding

In the not too distant past, a person’s cover letter and resume were the first and frequently only hurdle to get an applicant’s foot in an employer’s door. The hiring manager would scan these documents for skill fit and work experience, and then place them in an “in” pile or toss them in the “round file.” Applicants lucky enough to get their resumes into the “in” pile would get a phone call and possibly an interview. Cover letters and resumes were vital because they were frequently the only readily available information a hiring manager could find about an applicant. Today, with the rise of social media, all of that has changed.

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