r/inthenews

Salary transparency was supposed to be the major fix for the pay gap.

But at Fortune‘s Workplace Innovation Summit in Atlanta on Tuesday, a pay transparency CEO and a viral content creator who have spent years working on the issue both said that the problem isn’t companies not sharing pay, it’s that they can’t explain it.

“If companies were merely consistent with the things they say they care about in their pay philosophy, and what they actually pay in the execution of offers, merit, promotions, transfers, the pay gap would basically be eradicated,” Maria Colacurcio, CEO of pay equity software company Syndio, told the audience.

The disconnect, she said, isn’t intentional, but it still has consequences. HR and compensation teams spend months building thoughtful strategies. But then “that strategy hits the wild wild west,” when recruiters are trying to land candidates and managers are making last-minute retention plays. Merit increases also often go to whoever is loudest, not necessarily whoever performed best.

“We got rid of our HR team.”

For most executives, that’s a sentence likely to provoke intense anxiety. But for Bolt CEO Ryan Breslow, it was unavoidable.

Speaking at Fortune’s Workforce Innovation Summit on Tuesday, the 31-year-old defended sweeping workforce cuts at Bolt—including a recent layoff affecting roughly 30% of employees—as well as his decision to eliminate the company’s HR team.

“We had an HR team, and that HR team was creating problems that didn’t exist,” Breslow told Fortune editorial director Kristin Stoller. “Those problems disappeared when I let them go.”

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