If You Work At Whole Foods, Your Paycheck Is No Secret
PHILADELPHIA (CBS) – Ever wonder how much your boss or coworkers make? At Whole Foods, workers’ salaries are no secret. From the top of management to the newest hire, anyone can look up anyone’s pay.
CBS News reports that the policy has been public for years, but recently got thrown into the spotlight thanks to the book The Decoded Company: Know Your Talent Better Than You Know Your Customers, which focuses on innovative management practices.
Whole Foods CEO John Mackey says in the book, as reported by Business Insider, “I’m challenged by salaries all of the time. How come you are paying this regional president this much, and I’m only making this much?’ I have to say, ‘because that person is more valuable. If you accomplish what this person has accomplished, I’ll pay you that, too.’”
It sure doesn’t hurt that Whole Foods’ average hourly wage was $18.89 in 2013, higher than the average grocery store worker.
As for CEO Mackey? He makes just $1 annually.
“I have reached a place in my life where I no longer want to work for money,” he wrote in a letter to employees in 2007. “The tremendous success of Whole Foods Market has provided me with far more money than I ever dreamed I’d have and far more than is necessary for either my financial security or personal happiness.”