How?
We'll do it:
Having managed 50 million dollar+ private and public companies and having experienced the 2008 banking crisis from the inside, the founders of TGKX developed an in-depth understanding of just how wrong and unjustly tilted pay-structures and rewards schemes had become. It was also clear that major financial institutions and multi-nationals had gone down a path of unprecedented greed and abuse of public trust.
The founders, based on their hands-on experience, developed a matrix that companies could use, in order to adhere to higher ethical standards that both consumers and investors could use as guidance in their purchase considerations. We also believe that the system will spur job-growth, productivity and increased profitability for the companies listed.
The companies that wish to be listed on The Good Karma Exchange and use the Good Karma Product symbol would agree to a minimum set of standards, set forth below. It is a simple and straightforward concept that we believe that a number of major corporations, who are already managed with similar standards would be happy to sign onto in the short term.
Once heavily promoted, through traditional and grassroots channels, we believe that other companies will come onboard, if not strictly for ethical reasons, then ultimately for commercial reasons. It will take a while, but once we hit "the tipping point" it could be the catalyst for real change ..... globally.
The standards are:
- The highest earning employee will not earn more than 30 times more than the lowest earning employee in fixed wages.
- In the event that executives are rewarded bonuses and share options, employees with more than 1 year of employment will be given choices of bonuses and/or share-options on a scale based on seniority and fixed wages.
- All employees after 3 months of employment will be offered comprehensive family healthcare.
- All employees will be offered a favorable retirement savings program.
- Standards will be set for extended maternity leave opportunities, vacation time, child sick-days, education and training programs as well as job and working hour flexibility for parents.
- Companies agree to operate with defined high environmental standards.
- Companies agree to develop a social and local community engagement program.
- Companies are equal opportunity with equality in pay regardless of gender, sexual orientation or race.
- In the event of layoffs or cutbacks, employees with more than 2 years of employment will be given a percentage of that years executive bonuses in severance pay.
After the companies gets "listed" on the Good Karma Exchange by committing to the standards set forth by the board of TGKX, they will be granted the license to use the GOOD KARMA logo on product, in marketing, on investor prospectus and elsewhere.
The Good Karma symbol will be aggressively marketed through traditional channels and social media, celebrity endorsement, union promotion and education.
TGKX will conduct annual inspections of companies listed to ensure compliance.
The Good karma Exchange listing will grant direct access to both private and institutional investors (like major pension and union funds) that want to invest with confidence that their investment goes into companies that live by the same moral, ethical and environmental standards as their own.
Like "Fair Trade" and "Organic" symbols took years to get a foothold, we know that it will take time to reach a tipping point where real impact can be achieved. However we believe that that in the current climate of deep resentment against greed and social injustice, that it could spread fast and instantly get corporations on board that already adhere to standards similar to those set forth in the final TGKX matrix.
TGKX will reach out to likeminded organizations and will promote cross-marketing.
Companies listed on TGKX and using the Good Karma logo, will pay a license fee, which will go to promote TGKX further and the education and training of TGKX inspectors and teachers.
In the second face TGKX will develop training and educational programs in ethical capitalism and progressive management, particularly with the developing world in mind.
