Tom Smart, Deseret News
While it is often taboo to discuss pay structure in a company, the SumAll firm provides access to salary information on every position to everyone in the company, according to Open Forum.
"When you hide your cap table, it's one of the easiest evils to do in your life," SumAll CEO Dane Atkinson told Open Forum. "You can tell an employee that they have a huge amount of value and options but you don’t tell them the total allocation of the company ... and it hurts somebody else."
Employees eventually learn the salaries anyway, and transparency provides an outlet for employees to talk it over with their boss, Atkinson told Open Forum.
While the transparent pay scale has some benefits, the method does require a little more explanation of wage differences on the part of leadership.
In the long run, Atkinson has found that his employees have an improved sense of trust in the company, along with better collaboration and less political stress.
"Most of our team has refused offers from Google and Facebook and whatnot in the last few months," Atkinson told Open Forum. "They are unshakable because once they get that sense of being part of a family and that openness in a company, it's really hard to go away from it."
- About Utah: Baltic Avenue just bought Boardwalk!
- 2 Utah companies respond to FDA warning over...
- Ground broken for transit-oriented housing...
- Suit: Papa John's fired worker with Down...
- Family fun with the top down at unique RV resort
- How to be a billionaire
- Commission to highlight women in Utah economy
- 4 things you don't want your boss to know
- 2 Utah companies respond to FDA warning... 18
- Marijuana could deliver more than $800... 8
- 4 things you don't want your boss to know 6
- USDA: Genetically modified wheat found... 3
- Work is sometimes the best medicine 3
- Something that may have caused the... 3
- How to be a billionaire 3
- About Utah: Baltic Avenue just bought... 3