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I think there would be an initial rocky period as everyone got used to it and adjusted their expectations. But after a few years I also think management would love it because they would just build pay bands into everything and since employees would know not only what they made in that company but every other company, businesses would begin trending toward the lower end of the scale because I don't see them raising the lower level up, but slowly bring the higher paid individuals in line with the lower.
This wouldn't happen at most organizations, because people, generally, are complacent. One should always be evaluating their job - every single day. Your job is always evaluating you (don't believe me? Wait until your performance review), so you need to do the same. If at any point in time you decide that you want to divorce the relationship with your employer, you're free to do so, and likewise, most employers are free to eliminate your position too. At least once a year you should reflect on whether or not you want to continue the relationship.
A person who has not been offered a promotion or additional responsibilities (+compensation) and stays at an organization beyond 2-3 years should do so with caution. Often times, if you stay at a company, your annual raises will be minuscule compared to leaving the company altogether. In the management salary range, switching companies typically nets a 15%+ pay increase (and other additional compensation; e.g. stock, higher bonus percentages, etc.). Leaving a company should not be seen as a negative event either, as most companies will welcome their high performing employees back in a heartbeat. Anecdotally, I've met several people who have jumped around and ended up back at their original company after a few years. The salaries were increased by 50-70% compared to a person who would have stayed at the company.
Publishing salaries would only lead to disdain amongst employees. If two people are in the same pay band, but one is at $250,000 and the other is at $200,000, the person at $200K will take issue with the $250K person. Regardless if the person who is at a higher salary had to switch between 5 companies to get to the $250K mark, it would go out the window if this person was a peer to the other.
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