Listen Now: Gender Pay Gap
The CEO of Salesforce is setting the standard for employers everywhere, and it’s a high bar.
According to a recent news release, in 2015 Marc Benioff was informed of a pay gap between men and women at Salesforce. The difference was discovered during an audit and was evident through the entire company.
Benioff was also informed that to fix the problem it would cost six million dollars. But despite the hefty price tag, the San-Francisco-based CEO stepped up—dedicating three million dollars that year and another three million last year. That money went to correct compensation differences by gender, race and ethnicity across the company.
He also created a rule that would make it more likely for women to be promoted and seen as leaders. Since the news was shared, Benioff says other executives are reaching out to him in disbelief. Benioff says you can’t be a decent CEO in 2018 if you’re not committed to gender equality.
He says the boss knows how much everyone makes and how to fix it. The first step is admitting there’s a problem.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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