This is done at the Mondragon Corporation in Spain. Workers at different businesses/components of the firm vote to determine the ratio between the highest/lowest-paid workers. Last time I was looking at them (about eight years ago), 5:1 was the closest spread and 11:1 the widest. Most working class people recognize the importance of executives' contributions, but they were pretty confounded by the idea that anyone was sufficiently talented to merit 300:1 pay differential. So, the workers accept they may not have the most talented CEOs, but that they are also getting CEOs committed to the ideals of the firm.