As recently as five years ago, the GMB was implicated in an outrageous equal-pay failure by Birmingham city council, where women on the same pay grade as men (cleaners v bin men, for instance) were earning far less (in the starkest example, a refuse collector took home more than £50,000 in one year, while women on the same level received less than £12,000).
Mr Paulson argues that the approach combines pragmatism with an intense focus on moral hazard, or letting people pay for failure.
Follow-Up On Pay For Failure Are fair comp schemes a predictor of company stock performance?
The author of reports titled "Pay for Failure" and "Pay for Success," Hodgson awards points to companies worthy of praise for their compensation practices.
"She is being paid for failure.
You don't need to be paid for failure".
Creditors must pay for failures, but when creditors get wary, the authorities rush to prop up markets.
He also described £800,000 paid to former directors – including £300,000 to former FSA boss Sir Hector Sants – to stop them working for six months as "paying for failure".
"We are paying for failure on a grand scale, allowing people to fail at home and drift into expensive hospital beds and from there into expensive care homes.
As mentioned, whether you plan to owe money or expect a refund, you'll likely have to pay a failure-to-file penalty.
Critics have long complained about outsize compensation packages that dwarf ordinary workers' paychecks, but they voice particular ire over pay-for-failure.
