As a compensation software company with a mission to bring pay topics out of the shadows and into the light, we are fierce advocates of pay transparency around here. (Reminder: Transparency is a spectrum; what’s right for one company may not be great for another, and we support you in whatever you choose, so long as it’s intentional. We’re not yelling at you.) We’re proponents because it matters: Employee satisfaction goes up and intent to leave goes down when there’s more transparency around pay practices.
So you can imagine how much head-nodding was happening as I read this piece in TLNT by Jennifer Oertli, Director, Client Success at Bonfyre. In it, Oertli highlights the huge advantages organizations that are more transparent (even beyond pay) enjoy, including greater control of the company narrative and the ability to stay ahead of issues that would otherwise blow up. She offers four very helpful pointers for orgs set to embark on the undoubtedly uncomfortable path of increasing transparency: choose your words carefully, get executive buy-in, listen as much as you speak and appoint the appropriate spokesperson. Yes. Yes to all of this! Check out the full article for more of her great advice.
And oh hey, wouldn’t you know PayScale has some pointers of our own? If you’re into increasing transparency, and of course you are, check out these great resources:
7 Tips to Increase Pay Transparency in Your Organization
Q&A: What ‘Audits’ Should We Conduct as We Move Toward Greater Transparency in Pay?
Meeting Your Employees Where They Are When It Comes to Pay Transparency
Readiness Checklist: How Do You Know the Right Level of Pay Transparency for Your Org?
What’s Your Level of Transparency?
Tell Us What You Think
Do you have tough questions about compensation strategy and communication? We want to hear from you. Ask away in the comments.
Image: Juhasz Imre/Pexels
Leave a Reply