Under the wing of e-commerce giant Amazon, grocery store Whole Foods and its employees can expect a little special treatment. That comes in the form of “wage transparency” and a very competitive compensation plan.
The term “wage transparency” is defined as every employee knowing what the other employees make. According to a small study by nonprofit association World at Work and human resources consulting firm Mercer, only 14% of organizations have “significant or extreme” pay transparency.
Some believe that wage transparency is something that will create a jealousy driven dynamic between work associations. Whole Foods CEO John Mackey sees this in a completely different manner. For him, he thinks this will inspire a sort of ambition or aspiration towards seeking a higher position in the company.
As for compensation, employee salaries range dramatically based on amount of responsibility and position. Average salaries range between $30,000 and $99,000, with employees who work on the floor of the store at the bottom of the range while store managers bring in the most.
If you are looking for experience at a grocery store along with the potential of a long-term opportunity, the way Whole Foods has organized its company structure may serve you well. Still, the bigger concept of wage transparency and its effects is one to be answered.
Would you like to know how much everyone you work with is making?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.