It's time to save capitalism from those who abuse it for self-service. A manager who earns 60 times as much as his employees has not done 60 times that much.
Dieter Zetsche always tried to make Daimler the number one German premium car manufacturer. The fact that he succeeded contributes to his appreciation. This suffers now rightly since it is clear that the 65-year-old is probably even a number one: He receives higher retirement benefits than any other German company boss presumed before him.
The outrage is great. In the age of the Internet, people like to use personal abuse. It would be better to stay sober with the facts. Employees of car companies are generally better off in age than other workers, they often also receive a high occupational pension. And then Zetsche was still particularly successful, in contrast to many managers who fail and still get lush settlements. But even those who recognize all this may find Dieter Zetsche's Daimler pension absurd.
He is said to receive up to 4200 euros a day, almost a hundred times as much as an average earner who worked just as long. Did the Daimler boss (or any other manager) deliver a hundred times as much? After all, is he still in need of a luxury pension for his salary millions in order to have a pleasant retirement, which he has been granted? No.
Therefore, the Zetsche pension reinforces the impression of hard-working ordinary earners that capitalism is unfair. More unfair than before: while managers of large companies earned 15 times as much as their employees in the 1980s, today that's 60 times more. Afterwards wince age pensions, which amount to on average more than 30,000 euros with former Dax executive committee. And at one like ex-VW boss Martin Winterkorn to almost 100,000 euros. By contrast, the real wages of many employees have stagnated over the past 20 years. The pensions also often developed lean. The Zetsche pension is solidifying a society that needs cohesion to meet challenges such as globalization, migration and digitization. Therefore, such mega payments cause real damage.
There is a remedy: who like the Daimler CEO in 2017 earned 13 million euros, do not starve without huge pension. He can provide for his own age. And to do that, including justice, less than 13 million euros a year in fees.
At this point, liberals like to argue that the payment of a manager should only be decided by the market. If Zetsche gets 4200 Euro pension a day, he is simply worth it. To limit such absurd sums somehow jeopardizes the well-being of a company. For less money she allegedly gets only bad staff. Apart from the fact that companies often pay millions to bad staff: If this is so clear with salary competition, why do not tons of German managers go to the US, where more is paid? And why are there internationally successful companies in Japan, even though board members traditionally earn less than in Germany?
The market creates, every manager earns his million check: This is exactly the soulless reasoning that makes capitalism in many citizens in disrepute. Unfortunately. Because he is basically better than any other economic system to produce wealth for all. Therefore, it is time to save capitalism from those who abuse it for self-service.
Zetsches Megarente harms the community
German companies should start by themselves to abolish huge pensions – and to limit the salaries themselves. Managers do not have to earn 60 times as much as their employees. That only fuels frustration. Incidentally, it concretizes hierarchical patterns of yesterday. In an age of global competition, companies are much more likely to benefit from employees who are developing ideas on their own, instead of being humbled by the organizational chart status of superiors.
The federal government should give the companies a few years to regulate the management fees. If nothing happens, it would be conceivable to cover pensions and limit salaries to a certain multiple of average earnings.
Dieter Zetsche not only brought Daimler forward, he also expressed himself in contrast to other managers openly to questions of the community such as migration. That gave him sympathy. The fact that Zetsche does not realize how much he harms the community with his mega pension, unfortunately shows how distanced he is.