Got comp? Check out the latest video in PayScale’s new series, Ask a Comp Pro! This new educational video series answers all your most burning compensation questions, for newbies and seasoned veterans alike. Today’s topic: Winning the battle for pay transparency in the workplace. Watch now!
In this video, you will learn some interesting facts about why pay transparency is critical to your organizational success. Discover why It’s OK to talk about pay!
Listen, we know that the issue about salary transparency has been controversial for years, but the way that compensation managers discuss pay ranges has to evolve. Why? The PayScale Compensation Best Practices report revealed that the number one reason why employees leave companies is because they think they are underpaid.
So, how does pay transparency help? It should be a no-brainer! When employees know without a shadow of doubt that they are being paid fairly, they are more likely to stick around. Having a transparent salary policy can support long term business growth and improved employee retention rates.
We love hearing from you!
What do you think about the whole salary transparency debate? Are you for it, or against it, on the fence? Why?
Submit your comments, questions and ideas for our future videos series, using our comment form below.
good video
@Lorrie Thank you! We are glad you enjoyed it!
Companies that are Govt. Contractors have no choice in this matter – the law actually becomes effective 1/1/16. Executive Order non retaliation for disclosure of compensation is the basis of this new item. If this is an issue for you and/or your company this should be your first stop!