While some companies do not allow their employees to find out how much their colleagues are earning, the others make salaries public. Most of the companies we’ve been working with prefer not to disclose how much they pay one person or the other, to avoid bitterness and competition, in case they pay different amount of money to two people at the same job position.
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This is mostly true for small companies with no bonus systems. Yet, bigger companies seem to not be afraid of disclosing the salaries to anyone. Let’s take a closer look at the arguments supporting each side of it.
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The new tendency of revealing the salaries appeared last year, when one company in America, called Buffer, decided to boost up trust among its employees. To do that, they started by revealing the budget and costs of each project, and by including all the employees in the company e-mails. The last step they took was to reveal the formula on how they decide which employee earns more or less than the others. The formula was type of work x experience + location. They followed with a clarification on salary amounts of each person and explained how can he/she earn more and how much more. This clarification did really well on building team spirit, as each person knew what had to be done to earn more.
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In fact, one of the first companies to start out this program was Whole Foods Market chain of stores. The companies revealed not only the amounts of salaries of every worker and the bonuses they get. The purpose of this strategy was to stimulate workers to be trying harder to earn more money and more bonuses.
We have asked some of the business owners in Nigeria to comment on this and to say whether they think this technique could work here. Some of the company owners thought this idea could only work in the US, while in Nigeria this could lead to more jealousy and less co-operation among co-workers.
What do you think? Would this strategy help you work better? Please comment HERE.