Re: Incentives LO1299

Michael McMaster (
Thu, 18 May 1995 11:56:09 +0000

Replying to LO1225 --

I think Ivan points to a condition that prevents any pay system from
being perceived as being "fair" by each and every employee and
probably by most employees over time.

One of the possible social learnings that might breakthrough this
area if for those who come for employment to realise that they are
free and independent agents in a marketplace. And that, like all
marketplaces, they can enter the marketplace they habitually use or
other marketplaces at any time.

This might be a major social education/change or it might be a system
of education and development within a company. The latter is more
likely to succeed in our lifetime.

For those who think this is idle thoughts or merely personal
prejudice, there is a singularly successful company who uses this
approach. The measure of success is that, from small beginnings 25
years ago, is the second largest private company in the US today.

There is another giant - VISA - which uses similar principles at an
organisational rather than an individual level.

The "Cambrian explosion" of corporate forms is upon us. It is my
belief that those who are trying to work out adjustments within the
current corporate hierarchies are merely "shuffling deck chairs on
the Titanic".

Michael McMaster