The Problem
By 2017, TechFlow Inc. was dying. Competitors poached top talent with higher salaries, retention dropped to 47%, and revenue stagnated at $8M. Founder James Wright realized traditional compensation modelsopaque, political, and annualwere fundamentally broken.
The Solution
In 2017, James announced a radical change: employees would determine their own salaries through weekly auctions, with all compensation publicly visible to everyone.
Implementation
Week 1-4: Chaos Salaries ranged wildlyfrom $40,000 to $350,000 for similar roles. Some undersold themselves; others overreached. Peer pressure began correcting extremes.
Month 2-6: Balance Public visibility forced justification. High earners proved their worth or faced embarrassment. Underpaid employees negotiated raises based on data, not politics.
Month 7+: Culture The transparent system attracted talent who valued autonomy. Performance discussions became data-driven. Trust replaced hierarchy.
Results
- Retention: 47% 91%
- Revenue: 127M (7 years)
- Applications: 12,000 job seekers for 200 positions
- Recognition: Glassdoor’s “Best Places to Work” (3 consecutive years)
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