"In a recent study published by the Academy of Management Journal, Prof. Peter Bamberger of Tel Aviv University's Recanati School of Business and Dr. Elena Belogolovsky of Cornell University's School of Industrial and Labor Relations have published a study that explains why pay secrecy is likely to hurt an individual's work performance and prompt top talent to seek new employment. They conclude that pay secrecy weakens the perception by employees that a performance improvement will be accompanied by a pay increase. It also finds that high-performing workers are more sensitive than others when they perceive no link between performance and pay; suggesting that pay secrecy could limit a company's ability to retain top talent."
So who, if anybody, benefits from pay secrecy?
Japan has the largest number of long running companies (75+ years) in the world. That includes both large and small companies. They treat their employees very well. Western investors often undervalue them due to high wage costs and staff benefits, but Japanese companies count people as an asset.
If a company wants to be around in 50 years time it should value its employees. If the CEO just wants to get rich quick and then get out exploitation is the name of the game. From an employee's point of view a company that treats them badly is likely to fail anyway, so might as well look for something better right away.