Why this CEO lets his employees decide his pay rises

While many businesses turn to remuneration committees or the board of directors to decide the salary of the chief executive, Henry Stewart ?? , CEO of IT consultancy Happy, has handed over this power to his staff. For the past two years, Stewart has let his 22 employees vote on his annual pay?rise.?

The business already had a?transparent salary policy, where staff submit a proposal for their pay each year that takes into account what they’ve achieved and how they’ve contributed to the values of the organisation over the previous 12 months. These are used to determine pay?rises.

And in 2020, Stewart decided to submit his own proposal that staff would judge, complete with a potential pay rise range. “It was slightly scary,” he admits. “I did wonder whether people would feel I shouldn’t be getting paid as much as I am, because my salary is the highest in the organisation.”

Would you let your staff decide your pay rise? Stewart s claims it has helped him better understands his true worth. Read more.

Four-day week trial proves a success as organisers hail ‘breakthrough moment’

Between June and December last year, around 2,900 workers enjoyed an extra day off every week as part of the biggest trial of the four-day-work week in the?UK.?

Now?the pilot?has come to an end, fifty-six of the 61 companies plan to continue with the four-day week at least in the short term, with 18 of those committing to making the change permanent.?Participants suggest that the shorter work week had a positive impact on their work/life balance. Some 71% reported lower levels of burnout, 60% were better able to manage their caring responsibilities and 62% found it easier to balance their work and social life.

Joe Ryle, director of the 4 Day Week Campaign which organised the trial, claims the results represent a “major breakthrough moment” for the four-day-week movement.

“These incredible results show that the four-day week with no loss of pay really works. Surely the time has now come to begin rolling it out across the?country.”

Sam Forsdick takes a look at why the four-day week worked for the businesses involved. Read more.

Monzo and the pitfalls of staff surveillance

Many workers are used to being monitored while performing their jobs. Restaurant staff might have to clock in and out, lawyers log their days in seven-minute increments so they know how much to bill clients, and agency workers keep track of where they spend their time to check if projects are profitable.

But slowly the practice has seeped into other industries.

Monzo has become the latest firm to make headlines for employee surveillance, reigniting the debate about how companies monitor staff activity. Our editor Sarah Vizard argues companies are paying too much attention to an elusive 'productivity' metric and not enough to the impact that monitoring has on staff. Read more.

More from the business world

• Five ways to set ‘stretch’ goals that won’t lead to staff?burnout
• What do companies lose when they cut out middle?managers?
• Opinion: 4 shifts in business leadership for a disruptive era

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