BNET Study Finds CEOs Agree: ''We're Overpaid''
December 12 2007 - 8:00AM
Business Wire
While public outcry over skyrocketing CEO compensation regularly
makes headlines, it turns out that nearly two thirds of CEOs who
responded to a BNET.com study couldn�t agree more. This is
according to the first-of-its-kind CEO Report Card, compiled from
the feedback of more than 1,500 respondents to a survey conducted
by BNET, an online resource that helps business managers and
professionals successfully navigate the corporate landscape and a
property of CNET Networks, Inc. (NASDAQ:CNET). The survey also
revealed that, while 64% of CEOs describe themselves as �engaged,�
just 35% of employees feel that good ideas successfully bubble up
through the organization to the attention of the CEOs. While both
groups agree on the issues of CEO salary, employees and CEOs have a
vastly different perception of management ability. For example, 50%
of execs say their leadership style is effective, but only one
third of employees agree. �The data clearly show that today�s
executives lack the �soft skills� to inspire their employees,
appear compassionate or communicate effectively. They also are seen
as inaccessible and unapproachable,� said Stephen Howard-Sarin,
editorial director, BNET. �This should be a slap in the face for
executives � investing some energy into improving even just their
communication skills could pay huge dividends.� More highlights of
the survey: Despite current perceptions, only 24.8% of employees
say that CEOs �tend to be unethical.� Nearly 70% of executives are
satisfied with their performance, but only 45% of employees say
their leaders are doing a good job. Employees identify
communication and leadership style as their leaders� largest
weaknesses. More than three quarters (77%) of employees say that
CEOs are overpaid and 64% of top executives agree. Most executives
say that they most value integrity when evaluating their employees,
however only 27% of employees think this is true. Employees say
that delivering results is what matters most when they are
evaluated. One in three executives say that CEOs get picked on by
the media and are under-appreciated for the responsibility they
shoulder. 75% of employees disagree. To read and download the full
report, including expert commentary and analysis, visit:
http://www.bnet.com/2436-13070_23-173261.html. Survey Methodology
The �CEO Report Card� survey was conducted via email among
registered BNET.com users June 11-18, 2007. A total of 1,572
surveys were completed. Of employed respondents (93.1 of total%),
24.5% of respondents identified themselves as senior or executive
management level; 45.2% as middle or other management; 9.4% as
professional 17.6% as staff and 3.3% as �other� or n/a. 47% of
employed respondents work for companies with over 1,000 employees;
24% with 100-999 employees; and 29% fewer than 100 employees. The
majority of industries represented are manufacturing, business
services/consulting, healthcare and finance. Please note: For the
purposes of this report, �CEO� denotes the top executive within a
company and is inclusive of company presidents and owners;
�respondents� refers to BNET�s registered users who completed the
survey. About BNET.com BNET.com helps business managers and
professionals successfully navigate the corporate landscape through
practical and actionable content addressing the workplace issues
and situations they face. BNET is a property of CNET Networks, Inc.
About CNET Networks, Inc. CNET Networks, Inc. (Nasdaq:CNET) is an
interactive media company that builds brands for people and the
things they are passionate about, such as gaming, music,
entertainment, technology, business, food, and parenting. The
Company's leading brands include CNET, GameSpot, TV.com, MP3.com,
CHOW, ZDNet and TechRepublic. Founded in 1992, CNET Networks has a
strong presence in the US, Asia, and Europe.
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