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I’m not sure I love any policy that’s predicated on discarding employees, and to CD1s point that’s kind of how it is now....especially once you hit that $150K+ range (or maybe $200K for creatives).
I'm not sure this is any different from how it currently works. It depends on who is making the decisions; if it's the same hierarchy then the outcome would be the same. If it's some kind of collective voting then eventually you'd have everyone getting the same nominal salary but certain high-performers and committee heads would find ways to be more equal than others with lavish perks or secret bonuses.
Can you trust EVERY employee to price themselves right and not over estimate? Wouldn’t some employers use it as an excuse to let some people go as a way to push employees to underestimate their value?
I think just like unlimited PTO policies, employees would feel guilty and undervalue themselves (like with PTO where they don’t take as much, at least in America). there will of course be those juniors who think they are worth 200k and not show up.
...could set their own salary. But, here’s the catch, every quarter the agency would discard people who seemed to be “bad value for money.” Over time, who would benefit? Would you earn more for your work? Feel more secure? Would the agency find that the employees were more satisfied? Would salaries go up or down?
You're a CCO. You know this is how it works behind the scenes anyway, with or without unlimited PTO. If you're not worth the money you demand, you're out.
The higher you demand, the more you stick out. When it comes to mowing the lawn, you're first to get evaluated for value.
It’s an interesting thought experiment at least. I imagine the devil would be in the details though - how would “value” be assessed? So much of what happens at an agency is non-quantitative that it opens the door for all sorts of problems of standardization and politics. Not to mention bias for any number of reasons.