Some Companies Let Employees Choose Their Own

Salaries

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Economy & Business

Vocabulary

raise
Noun
reɪz
an increase in how much one gets paid
I was nervous when I asked my boss for a raise.

deserve
Verb
dɪˈzərv
to have earned something; to be worthy of something
He's a hard worker and deserves a promotion.

feedback
Noun
ˈfiːdˌbæk
advice, compliments, or criticism that is given based on a person's work
The feedback I've gotten from the workshop has been mostly positive.

former
Adjective
ˈfɔːrmər
that used to have a particular job, title, position, etc. in the past
I know him because he is my former business partner.

based
Adjective
beɪst
showing the main place or area where someone works, lives, etc.
She works for a London-based banking company.

finance
Noun
ˈfaɪnæns
the money that one has; the use and management of money
I need to spend less money and get my finances under control.
Article
Some Companies Let Employees Choose Their Own
Salaries

Some Companies Let Employees Choose Their Own Salaries

Some companies around the world are letting their employees choose
their own salaries.

Companies have different ways of doing this, but most of them involve
letting employees know how much their coworkers are paid, how the
company makes money, and how decisions about pay are made.

Cecilia Manduca, 25, works for GrantTree in the UK. Manduca told the
BBC that she recently gave herself a pay raise of over $8,600 a year. Like
many companies that let their employees choose their salaries,
coworkers at GrantTree help decide what each employee should be
paid.

"I felt a lot of doubts asking for that raise," Manduca said. But when she
asked her coworkers, they said that she deserved it.

Some companies ask employees to explain why they should get more
pay, then see if their coworkers agree. Others let employees choose a
group of coworkers to give feedback before the employees decide their
own salaries.

Some companies, like California's Morning Star and Brazil's Semco, have
been doing this for decades.

John de Koning, former commercial director at Netherlands-based

Incentro, said the company started letting employees choose their own
salaries in 2015.

He said the employees needed to understand how the company worked

before making their decisions, so he had a meeting where all of the
company's finances were explained. He said this made people happier
and gave them a better understanding of the company – and they also
changed the salaries they asked for, with some asking for more, and
others asking for less.