Something which doesn't seem clear to me is whether the team is able to properly evaluate the pay of their colleagues. Surely the people that are most friendly and fit most of the in-group traits of the group will benefit most? What about the creative and non socially-correct members that don't fit in - should they move to different companies?
In general, I cast doubt on the idea that employees really know what's important because of principle-agent problems and culture.
In general, I cast doubt on the idea that employees really know what's important because of principle-agent problems and culture.