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Here’s the formula one tech startup uses to determine all non-negotiable employee salaries

By | RICHARD FELONI | http://www.businessinsider.in/

At five-year-old social media company Buffer, the salaries of its 65 global employees – from the person who writes its tweets to its CEO – are posted online for anyone to see. They are determined by a strict formula and aren’t open to negotiation.

Cofounders Joel Gascoigne, CEO, and Leo Widrich, COO, took this unique approach after deciding early on to make “default to transparency” a top company value. It not only feels natural, Gascoigne told Business Insider, but it helps unite a disparate workforce that lacks a central office.

The salary formula gives employees one less thing to worry about and establishes a level of fairness, Gascoigne said. He and Widrich developed the first iteration of the formula alongside Buffer software developer Colin Ross, who has a Ph.D. in computational mathematics, in late 2013.

They implemented a new version of the formula last November, which we’ve broken down below.

BI Graphics Buffer Salary

Read on ……

 

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Ramesh Ranjan

A Business Consultant, Executive Coach, Visiting Professor, Content Manager & Editor. Ex IIM NASSCOM LRC, ex VP NHRD Bangalore Chapter, ex VP-HR@Schneider Electric, Head HR@ APC, Caltex,Co Systems, Natural Remedies. https://www.linkedin.com/in/rameshranjan/

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