His prices are not changing, only exec compensation is being significantly impacted in a rebalancing of worth. Arguably the PR and motivational impacts should also be non trivial.
My biggest concern would be the normalising effect. If i'm a successful salesperson and it was announced that my 69k salary was going up to 70k - but so was the [lowest paid role; no disrespect intended]? I'd probably slide towards feeling undervalued despite it still being in line with market rates.
My only other concern would be the implicit pressure to outsource some services over time. I know my company gets around paying london living wage by declaring that contractors do our catering so they aren't responsible for the wages paid to catering.
It's still a cool thing done for good reasons and I hope it works out.
My biggest concern would be the normalising effect. If i'm a successful salesperson and it was announced that my 69k salary was going up to 70k - but so was the [lowest paid role; no disrespect intended]? I'd probably slide towards feeling undervalued despite it still being in line with market rates.
My only other concern would be the implicit pressure to outsource some services over time. I know my company gets around paying london living wage by declaring that contractors do our catering so they aren't responsible for the wages paid to catering.
It's still a cool thing done for good reasons and I hope it works out.