Publishing pay to nullify nattering
One company has made an interesting move to combat inter-office jealousy over rumoured pay rates; telling everyone in the company exactly what everyone else earns.
Publishing pay rates is standard behaviour in the public service, but the US food group Whole Foods Market has taken the practice to the private sector, taking on ‘conscious capitalism’ as part of a broader corporate social responsibility drive.
Whole Foods founder John Mackey says the practice ends the rumour-mill that can start when someone appears to be earning more, describing the strategy at a recent industry conference as; “kind of radical, but it’s a good thing”
Pay transparency is one of several notions involved in the ‘conscious capitalism’ movement.
More information on what Whole Foods is doing to end fiscal bitterness is available in a recent video chat with Mr Mackey.