Home Open Sauce NBN Co: pay is hardly a reflection of performance

Author's Opinion

The views in this column are those of the author and do not necessarily reflect the views of iTWire.

Have your say and comment below.

The news that the staff at NBN Co are paid handsomely from the public purse comes in the same week that a study showed chief executives' pay in the US to be up to 5000 times that of an average worker in the companies they headed.

It is symptomatic of the era of greed that we live in, an era when people really have lost their sense of shame.

First reported in The Australian, the figures showed 2% of NBN employees, or 120, took home about $300,000 yearly while the chief executive Bill Morrow managed to get by on $3.56 million.

Eight percent of staff, or more than 480, were paid more than $200,000.

How are these fancy wages justified? Well, as far as NBN Co was concerned, it paid out sums like these because it was recruiting the best people.

You would think that that would be reflected in their work, wouldn't you? At least to some extent? Find me a dozen random people who are happy with what NBN Co has wrought in this big, brown land and I will stop complaining.

If we assume that the average NBN Co employee is paid $100,000, then Morrow takes home something like 35 times an average employee's pay.

Which puts him much below the titans of the game who are in the US, his home country: 225 companies were surveyed and in 188, the chief executive's pay could be used to pay more than 100 workers. And at 219 of those companies, the average worker would need to work 45 years to make one year's wages paid to the chief executive.

If NBN Co spent less effort on spin and activities that have little relevance to its prime task - rolling out the best broadband network possible under the existing constraints - one doubts that anyone would fault them for being paid princely amounts.

But the main activity of everyone from Morrow downwards seems to be the disclaiming of responsibility - and that extends even to the TV ads they run.

As the years tick by and the end of the rollout nears, one can be sure that bonuses will also be paid to these superlative workers for their accomplishments.

And what of Morrow? One is pretty sure that he will hang around in Australia after he finishes up with NBN Co, looking for the next company where he can continue his exceptional leadership. Telstra beckons.

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has the high potential to be exposed to risk.

It only takes one awry email to expose an accounts’ payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 Steps to Improve your Business Cyber Security’ you’ll learn some simple steps you should be taking to prevent devastating and malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you’ll learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

10 SIMPLE TIPS TO PROTECT YOUR ORGANISATION FROM RANSOMWARE

Ransomware attacks on businesses and institutions are now the most common type of malware breach, accounting for 39% of all IT security incidents, and they are still growing.

Criminal ransomware revenues are projected to reach $11.5B by 2019.

With a few simple policies and procedures, plus some cutting-edge endpoint countermeasures, you can effectively protect your business from the ransomware menace.

DOWNLOAD NOW!

Sam Varghese

website statistics

Sam Varghese has been writing for iTWire since 2006, a year after the sitecame into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

 

Popular News

 

Telecommunications

 

Sponsored News

 

 

 

 

Connect