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Guy's news: the restraint of greed

A few of you have warned me over the years that while you like the veg, you can do without my “commie rants”. I try to confine my weekly musings to the farm but trying to run a business responsibly is itself a political act, so here’s another.

When, five years ago, I realised the business had grown beyond my management skills, I was fortunate to find my managing director Rob Haward; a man who shares my beliefs. Along with setting up a staff profit-share scheme, Rob and I agreed that no-one in the company, including us, would ever earn more than nine times the lowest wage. This may not seem radical but it was as far as we could go without making recruitment and retention of senior and specialist staff impossible; a typical ratio for a UK company of our size is between 15 and 25:1.

Since the recession began and despite Cameron’s cries of “we are in it together”, the rich-poor pay gap has spiralled out of control; executive pay was 60 times the national average salary in the 1990s, but 180 times that today. Indeed in the USA, since the recession the top 1% have taken a staggering 93% of income growth, and the picture is similar here. Not even the most rabid freemarket advocate could argue that is fair. I found myself musing on all this as a result of listening to Robert Peston’s excellent BBC Radio 4 series The Price of Inequality, but my blood reached boiling point last week with news that HSBC appears to have colluded in tax evasion by the super-rich. Worst of all was the extraordinarily complacent response of Cameron, HMRC and HSBC. Have we really sunk into such collective lethargy where we accept such moral bankruptcy as inevitable? Yet, as Robert Peston asserted to an incredulous billionaire; there are powerful rewards other than money. Given half a chance most of us want to do a good job and contribute to something worthwhile, but those potentially very strong motivations are eroded in the face of greed of the rich and powerful.

Despite all of this and to my immense pride (and my MD’s credit) there is a feeling at Riverford that we really are in it together, and we have never had better or more motivated staff, despite being increasingly out of step with executive pay. The restraint of greed can only start at the top.

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    Guy Singh-Watson

    Self-confessed veg nerd, Guy Singh-Watson has over the last 30 years taken Riverford from one man and a wheelbarrow delivering homegrown organic veg to friends, to a national veg box scheme delivering to around 50,000 customers a week. Guy is an inspirational, passionate, opinionated and admired figure in the world of organic farming, who still spends more time in the fields than in the boardroom. Twice awarded BBC Radio 4 Farmer of the Year, Guy is passionate about sharing with others the organic farming and business knowledge he has accumulated over the last three decades. His video rants have provided a powerful platform to do this, with a video on pesticides going viral on Facebook to reach 5.6 million views and 91,000 shares. His weekly veg box newsletters connect customers to the farm with refreshingly honest accounts of the trials and tribulations of producing organic food, and the occasional rant about farming, ethical and business issues he feels strongly about.  

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