Should Your Company Make Everyone’s Salary Public Knowledge?
There’s NO bigger secret at work than how much money everyone makes. A small but growing number of companies around the U.S. are breaking that taboo . . . and making everyone’s salary public knowledge. WHY? Here are the top three reasons.
1. Trust. When there’s full transparency, no one can SUSPECT the company is ripping them off or paying them way less than everyone else . . . they’ll know for sure if that’s the case. Public salaries can also earn more trust from clients and customers.
2. Motivation. There’s no mystery in raise negotiations anymore. Employees will know what other people are making and will have to step up to prove they’re providing the same value to the company and deserve the same salary.
3. Team building. If you know how much everyone’s being paid, it eliminates that wall that all coworkers have to put up between each other.
Of course, all of that can BLOW UP. Knowing people’s salaries could just make everyone BITTER and RESENTFUL . . . which is why the current, secret system is in place basically everywhere. Maybe it shouldn’t be? We’re not convinced.