In modern-day techlandia, people toss around the term "flat hierarchy" like it's going out of style. Which it most certainly is not, given its status as a permanent entry in the proverbial book of corporate buzzwords. 

But it is rare to find a company that lives up to the hype. Enter software development company Punchkick Interactive.

"At Punchkick, flat means flat," said CEO and co-founder Zak Dabbas. "No managers. No executives. No butts to kiss." 

The company's fully self-managed teams render unnecessary the need for managers. For client projects, teams are assembled based on individual strengths, not a predetermined org chart. And instead of being suffocated by a web of red tape, employees can implement their ideas as long as they've sought the advice of their peers.

"You're not going to be competing with your coworkers for your next promotion," said Brad Carrera, head of user research. "If there's a win, we all win."