> Eventually, many managers and organizations would just sidestep the battle by paying everyone the same thing based upon easy-to-identify metrics like seniority. As a result, the people with more value to the business will find jobs at companies that pay them according to a better measure of their bottom-line worth. With no one left but the lowest-common-denominator employees, the company flounders and fails.

In most fields, there are already companies which pay wildly different amounts for the same jobs, so the people contributing more in those similar roles are already highly incentivized to leave for higher-paying pastures.