The effect of company performance and executive remuneration on employee's perceptions of fairness in the South African financial services industry by Magee, Ryan

“…In the South African context there are many senior executives that in most peoples' opinion earn excessive salaries and bonuses, this while the organisations' that they lead perform poorly. As a consequence of their organisation performing badly, employees need to be retrenched, yet executives seemingly do not forego or even reduce their salaries or bonuses in order to retain employees and improve the organisation's bottom line. …”
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