To me, this sounds like general purpose wage competition. I mean, even doing my own job for much less than the going rate would be a suboptimal personal choice, a sacrifice, etc. My wage level is enough to ensure that acting in the company's interest is also in my personal interest.

In fact, every player who is involved with the company (workers, suppliers, shareholders, customers, etc.) is assumed to be acting out of self interest. What management does is to arrange matters so that self interest coincides with a unified interest that is the business entity.