Comment by eastbound
3 years ago
No. With full public information, bad employees benefit from being able to ask for more, good employees just flee elsewhere. Because it’s impossible to reason someone on their skills.
Full information is hell on Earth.
This is the opposite of my experience with salary transparency both as an employee and a manager. It tended to made unproductive employees leave when they realized that the company did not consider them as critical as they imagined themselves to be which saved a ton of effort because we rarely needed to resort to PIPs or firing. It also made it clearer to productive employees how much their work was valued.
Management’s job is to get rid of bad employees. Good employees do not have unlimited places to “flee” to. And full information is when markets allocate resources most efficiently.
Information asymmetry is a natural thing. It benefits job seekers too because your prospective employer does not know everything about them.
If all info was freely available knowledge brokers would have immense power.
> Information asymmetry is a natural thing.
What does this mean? Why does natural even matter? Humans changed a lot of things that are “natural” to better their lives.
>It benefits job seekers too because your prospective employer does not know everything about them.
Temporarily embarassed billionaires. Aka you like to think you are the 1% who can out negotiate an employer because you are so in demand. 99% of people will be at a disadvantage no matter what.
Also, https://theworknumber.com/
> If all info was freely available knowledge brokers would have immense power.
What is the purpose of a “knowledge” broker, if the thing they are brokering is already available to everyone?
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These "knowledge brokers" already exist and companies buy their info. This would only make it so employees could do the same.
So you would rather have your own compensation package be lower if it ensures that your coworkers packages are also low?
You'd be surprised and I can't find the study anymore, but this is a very frequent thing.