Business technology firm, SumAll, breaks convention and addresses the taboo topic of how much money each employee earns. Every worker’s wage is disclosed in SumAll’s transparent workplace.
SumAll’s CEO, Dane Atkinson, explains his worker’s wages are all available on a drive. It affords employees the “realization of where you are in the spectrum of other people.” The company’s 95% retention rate exemplifies the efficacy of SumAll’s transparent workplace.
“Meritocracies are usually better in general,” Atkinson said on Jansing & Co. Tuesday morning. He said when employees want to negotiate salaries, they know where they monetarily stand in relation to other employees and it allows for more open dialogue between employers and employees.
Atkinson said that no Fortune 500 company currently utilizes SumAll’s transparent model as the companies “think that there is a lot of risk.” Defying that mindset, Atkinson revealed his salary to MNSBC’s Richard Lui—$120,000.