Slashdot Mirror
Tech Startup Buffer Publishes Every Employee's Salary, Right Up To the CEO
Hugh Pickens DOT Com writes "Paul Szoldra reports at Business Insider that Joel Gascoigne, CEO of social media startup Buffer, reveals his salary along with the salary of every single employee in the company, and includes the formula the company uses to get to each one. "One of the highest values we have at Buffer is transparency," says Gascoigne. "We do quite a number of things internally and externally in line with this value. Transparency breeds trust, and that's one of the key reasons for us to place such a high importance on it." Gascoigne, who has a salary of $158,800, revealed the exact formula Buffer uses to get to each employee's number: Salary = job type X seniority X experience + location (+ $10K if salary choice). Gascoigne says his open salary system is part of Buffer's "Default to Transparency" and says Buffer is willing to update the formula as the company grows but hopes that its focus on work/life balance fosters employees that are in it for the long haul. "In Silicon Valley, there's a culture of people jumping from one place to the next," says Gascoigne. "That's why we focus on culture. Doing it this way means we can grow just as fast—if not faster—than doing it the 'normal' cutthroat way. We're putting oil into the engine to make sure everything can work smoothly so we can just shoot ahead and that's what we're starting to see.""
Salary = job type X seniority X experience + location
So I guess productivity and contribution to the business doesn't count. Great. Time to sit back and eat pretzels!
www.shortman.com.au - top shorted stocks on the ASX
Especially with this on their front page:
There are currently NaN people using Buffer who have shared 115,681,392 updates through Buffer.
Sounds like some top-notch talent working there!
OK, if you're the first to agree to clean out the sewage backup after the regular crew all left to be bartenders at Hooters.
If you think I voted for Trump because of this post, you're wrong. I voted for Dr. Jill Stein of the Green Party. Again.
When asked for clarification, employee number six said:"I am not a number. I am a free man!"