Makes sense. New hire gets paid a lot, everyone updates on what they should be getting paid, top performers have the best chance of getting jobs elsewhere and

Makes sense. New hire gets paid a lot, everyone updates on what they should be getting paid, top performers have the best chance of getting jobs elsewhere and they now know they should be getting paid more. Seems like this consideration makes hiring new people much more expensive. Either you pay everyone (or just top performers) more or pay the new hires less and likely attract a lower tier of new hire which has its own cost. Employees should do more to share their pay so everyone knows how much everyone else is getting paid. I mostly think there should be a law mandating this - every employer with more than 100 employees must publish summary statistics on wages at every job category. I recall reading that CEO pay skyrocketed after a law intended to reduce CEO pay required that CEO compensation had to be disclosed. It had the opposite effect and CEOs started to make much more. Seems like we should apply that same thing to the average worker.