Companies and Brands
Nike Employees to Get Raises, but How Much?
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A number of media outlets covered raises that will be given to about 7,000 workers at Nike Inc. (NYSE: NKE). The media did not report how large these raises would be, nor the size of bonuses some employees will get. It may be very little.
According to CNBC:
Nike said about 10 percent of its employees — both men and women — will receive adjustments to their pay to ensure equal and competitive compensation for the same job functions around the world, according to an internal memo reviewed by CNBC.
If the size of the raises is 10% as well, the decision is meaningful. If the increases are 1% or 2%, they are not.
The Nike report is a fine example of how a story eats its own details. What might be a good story is barely a story at all.
The media reports suppose that the Nike raises are in part of improving differences in pay based on gender. That may not be true, or only partially so. Nike has had to face sexual insensitivity problems in the workplace, which includes the departure of at least one executive. Pay raises will not entirely improve the problem. If they are modest, they may actually be seen as an insult.
Pay raises? How much?
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