At 10Pines, an Argentinian tech firm, salaries are decided thrice a year at the ‘rates meeting’ by the employees themselves! This unique meeting is attended by everyone, except for the new entrants. Employees or their mentors are allowed to propose a raise for themselves, and the proposal is open for debate.
This is not the only extraordinary fact about 10Pines. The Company does not have a designated CEO, nor are there any real managers to ‘lead’ the teams. However, what they do have are senior partners in the company, who are addressed as ‘masters’ or ‘associates’.
While the small size of the firm may make this approach practical, the fact remains that the Company aims to have a flat hierarchy and be transparent with its employees to the maximum extent possible. There are no bosses, and therefore, the power of deciding hikes is given to the people that make the Company.
The Company also follows the practice of sharing 50 per cent of the profits amongst the staff, every year.
All important company decisions are taken in consultation with the employees, as a team. Everything, from new customers, existing clients, expenditure, finances and salaries are discussed openly in meetings every month. The new entrants are allowed to join these meetings after they finish their three-month probation period.
According to a BBC report, some of the employees have even turned down increments that were proposed for them because they felt they did not deserve them.
When it comes to the hiring process, the final interview sees the selected candidate meeting the entire team of about 85 members. Such a democratic environment in today’s times is hard to believe.