4 ms·
Completely agree. It's not a perfect analogy but if you look at professional sports, the main driver behind higher salaries was publicizing them. Prior to tha
by mattm 9y ago
Completely agree. It's not a perfect analogy but if you look at professional sports, the main driver behind higher salaries was publicizing them. Prior to that, owners could pay some star players much lower than their market value simply because they were bad at negotiating.
It's in our interest to have more publicity around salaries.
- maxxxxx 9y agoI have heard the same argument was made about about CEO salaries. Once they got published they started rising.
- Broken_Hippo 9y agoOk, lets look at this another way. Say the average salary for a cashier is X at one store. However, Sally gets paid Y while Harry gets paid Z. Turns out, they have similar qualifacations and background, along with salary history. Both accepted a raise when they took the job at this store, but for whatever reason Sally gets paid more - and has since the beginning. Similar differences are found between other employees. As one of the reforms, the company starts publishing every employees' salary. A few folks, like Harry, are understandably upset. To help remedy this, the company raises the pay of some folks to make things more fair between folks with similar qualifacations, and make company-wide standards for getting paid more. After a while, that average wage, "X", gets higher because folks are getting paid more.
- maxxxxx 9y agoThis sounds like a good thing to me.
- chii 9y agoexcept for the shareholders
- Broken_Hippo 9y agoThat is to a point. In a way, it is a cost of doing business if you weren't doing it before. Sometimes it can make it difficult for places with a low margin (restaurants). But I think the overall effect - more folks having more spending money - is positive, even for the shareholders. It just takes some time for those to recover the initial loss.