Pay transparency (aka salary transparency or compensation transparency) is one of the most hotly debated topics. It is because it isn’t rare for two people with the same qualifications to be earning different salaries for the same position. Nobody would have known a decade or two ago since salaries were considered a taboo conversation subject.
Practical Tips for Effective Career Discussions at Work (NICEC)Barry Horne
Based on research conducted by the [UK] National Institute for Career Education and Counselling, this document highlights key findings. It then offers practical tips for Givers and Receivers of Career Support in a tabular, staged format. Tips are presented for setting up career discussions, establishing trust, sharing information and agreeing action.
Creating Pay Transparency In The WorkplaceBambooHR
View with recording here: http://ow.ly/SFVnK
Pay transparency can be one of those topics that people shudder at. But there are many layers of pay transparency and a good strategy will help boost productivity and retain top talent.
Webinar - Pay Transparency Legislation Series Ep 9PayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas and Senior Corporate Attorney- Employment, Lulu Seikaly as they discuss the current landscape of global pay transparency legislation and best practices for remaining compliant.
Presentation to initialize All hands meeting to a team and to explain what is the process, what is expected to happen and when a team is ready to be called A TEAM.
How to Make Sure Your Employees Feel Valued at WorkBambooHR
We have a foundational human need to feel valued, to feel appreciated, to feel like what we do matters, and is recognized. In HR we talk about “total rewards” or “rewards and recognition”. We may use all sorts of tactics to try to improve “employee engagement” but often miss some of the most important elements of this conversation. In this webinar we’ll dive deep into this human need to feel valued.
In this webinar, Tim Low, SVP of Marketing at PayScale, and Rusty Lindquist, VP of Thought Leadership at BambooHR will discuss why feeling valued is the key to sustaining great work and high performance. They will highlight what signals you need to watch out for to know when employees don’t feel appreciated. And most importantly, they will share concrete steps you can take to make sure your employees feel valued.
Issues with employee engagement and productivity continue to grow. The power has shifted from employer to employee as employees now have the choice to be very selective about their employer. Top talent knows they can leave mediocre organizations for thriving environments. Understanding and enhancing your internal talent is critical for companies to drive results that will positively impact and contribute to your bottom line. Implementing strategies that support an engaging employee experience will help your company be successful in attracting and retaining that top talent.
How to Build Productivity Through Reward and RecognitionBambooHR
Learn why reward and recognition are important for employee productivity. This slideshare includes research on what employees want most, when and how to reward them, and ideas for recognizing employees at small to mid-sized companies.
Practical Tips for Effective Career Discussions at Work (NICEC)Barry Horne
Based on research conducted by the [UK] National Institute for Career Education and Counselling, this document highlights key findings. It then offers practical tips for Givers and Receivers of Career Support in a tabular, staged format. Tips are presented for setting up career discussions, establishing trust, sharing information and agreeing action.
Creating Pay Transparency In The WorkplaceBambooHR
View with recording here: http://ow.ly/SFVnK
Pay transparency can be one of those topics that people shudder at. But there are many layers of pay transparency and a good strategy will help boost productivity and retain top talent.
Webinar - Pay Transparency Legislation Series Ep 9PayScale, Inc.
Join Payscale’s Chief Product Evangelist, Ruth Thomas and Senior Corporate Attorney- Employment, Lulu Seikaly as they discuss the current landscape of global pay transparency legislation and best practices for remaining compliant.
Presentation to initialize All hands meeting to a team and to explain what is the process, what is expected to happen and when a team is ready to be called A TEAM.
How to Make Sure Your Employees Feel Valued at WorkBambooHR
We have a foundational human need to feel valued, to feel appreciated, to feel like what we do matters, and is recognized. In HR we talk about “total rewards” or “rewards and recognition”. We may use all sorts of tactics to try to improve “employee engagement” but often miss some of the most important elements of this conversation. In this webinar we’ll dive deep into this human need to feel valued.
In this webinar, Tim Low, SVP of Marketing at PayScale, and Rusty Lindquist, VP of Thought Leadership at BambooHR will discuss why feeling valued is the key to sustaining great work and high performance. They will highlight what signals you need to watch out for to know when employees don’t feel appreciated. And most importantly, they will share concrete steps you can take to make sure your employees feel valued.
Issues with employee engagement and productivity continue to grow. The power has shifted from employer to employee as employees now have the choice to be very selective about their employer. Top talent knows they can leave mediocre organizations for thriving environments. Understanding and enhancing your internal talent is critical for companies to drive results that will positively impact and contribute to your bottom line. Implementing strategies that support an engaging employee experience will help your company be successful in attracting and retaining that top talent.
How to Build Productivity Through Reward and RecognitionBambooHR
Learn why reward and recognition are important for employee productivity. This slideshare includes research on what employees want most, when and how to reward them, and ideas for recognizing employees at small to mid-sized companies.
Presented at Global Scrum Gathering in Vienna 2017 #SGVIE
In the session we took a look at different approaches to the coaching of a team dependent on which development phase the team is in.
We learned how ScrumMasters can use knowledge of team dynamics as driver for team coaching and enhancement of self organization.
Have you seen teams go through phases in their development and maturity as a team? Have you had trouble how to best support a team in different situations?
A great ScrumMaster needs to be able to handle situations like the above. This is often done by observing the team and deciding how to best coach it to become self organized.
Related Article for context:
http://www.eremedia.com/ere/you-can-tell-your-talent-acquisition-story-to-business-leaders-in-one-page/
Over the years I have been asked by Talent Acquisition and HR leaders what is the best scorecard that you use to set expectations and educate executive leadership against Key Performance Indicators (KPI’s).
Rather than just continue to have those conversations one at time, I thought it might be helpful to share the scorecard template that I have landed on that produces the best outcomes I have found based of years of trial and error experience.
Talent Leaders & Hiring Managers: How to Win Over Your Most Critical Stakehol...Cielo
As a talent leader, it’s essential for you to form a strong alliance with your hiring managers. Otherwise, the only thing your talent acquisition team will experience is a slow, misaligned process that is bad for your internal stakeholders and worse for your candidates.
Involving hiring managers early in the process can ensure that your most critical stakeholders are also your most effective and enthusiastic recruitment partners.
View these slides to learn more about:
-Understanding the positive business impact of alignment among recruiters and hiring managers
-Learning important steps to implement at each stage in the hiring process
-Building a system for measuring and reporting program improvements
Onboarding & Orientation - How to on-board new employees. A Manual for HR and...HRM Toolshop
Is the on-boarding of new hires in your Company left to the Hiring Managers’ inspiration of the day? Do you want to help one of your clients in professionalizing their on-boarding process by offering them practical and effective on-boarding & orientation tools? Are you looking for best practices to ensure a successful integration of new employees in your company?
Step by step, this Guide describes how to thoroughly prepare the start of a new employee, organize an On-boarding Day, help the employee to get acclimatized in the new work environment, take care of the relevant post-arrival actions.
For each step in the Guide, you will be introduced to the relevant tools and templates and how to complete them: a Manual to help the Line Manager with the on-boarding process, an On-boarding Checklist, an Orientation Brochure, a Template for a First Impression Interview, and so much more.
Great hiring doesn\'t happen by accident; it\'s the culmination of a series of thoughtfully planned and well executed events. At the beginning of hiring well is a sourcing strategy. This strategy outlines responsibilities, articulates the steps, plans for contingencies, and defines success.
Building this strategy can be difficult. To be effective, it should include a robust audit of source effectiveness, ROI measures, and cutting-edge methods. It is a toolkit that will address holistic sourcing approaches but be flexible enough to be tailored for unique needs.
The Connection Between Employee Engagement and Glassdoor ScoresGlintInc
A recent study illuminates the significant link between employee engagement and both Glassdoor scores and stock value. Dr. Charles Scherbaum discusses the results of this analysis and provides concrete advice for systematically measuring and improving employee engagement in order to improve employer brand and financial outcomes.
Do your benefits align with your organization’s values and connect your employees to your mission? In a 2017 survey, polling organization Gallup found that only 41 percent of U.S. employees said that they knew what their company stands for. The same research showed that a 10 percent improvement in this understanding led to an 8.1 percent decrease in turnover and a 4.4 percent increase in profitability.
Used correctly, your benefits package can demonstrate your values and create a better experience for your employees, whether they’re at work or at home. Join BambooHR and League to explore how to use your benefits program to promote an improved employee experience.
HR Strategy - How to develop and deploy your hrm strategy - a manual for HR ...Anne Van de Catsye
Is your organization in need of a long term strategy for managing HR? Does your CEO challenge you to come up with HR plans that are aligned with the business plans? Do you have a strong strategic HR plan in your head but little time and no standard templates to turn this plan into a formal HR Strategy Document?
Having a clearly defined Strategic HR Plan helps you to become a strategic HR Business Partner, and will increase your credibility with Senior Management.
It will also help you to follow up on defined HR actions and report on progress in a highly professional way.
This manual explains in detail the 4 major steps to execute when defining and implementing your own HRM Strategy. You can use this manual as a guide during your projects, or as a development tool for your team.
Content within this Guide:
1. The Theory : Introducing the Concept & ModelWhat is Strategic HRM?
2. The Practice : A roadmap for creating your HRM StrategyHow to develop your HRM Strategy?
3. The Experience : Sharing experiencesHow to be successful?
Agile People - Habilitando la agilidad desde Gestión de talentoJohnny Ordóñez
Les comparto mi presentación en Ágiles Colombia 2019; con algunas técnicas y enfoques que me han servido durante estos años colaborando con áreas de Gestión de Talento.
4 Ways to Communicate Compensation That Drive Strategic OutcomesBambooHR
Compensation is one topic that we can be unsure how to communicate. This webinar shares important research on the why communicating compensation correctly is so important and how to do it so that it drives strategic outcomes.
Too much talent management is too complex. Talent management does of course incorporate genuine challenges and tough choices. But we don’t need cumbersome processes and practices to make life harder for our executives, managers and professionals.
Summarising talent management into “one page” is too big an ask. Here is our attempt to distil the issues into ten templates:
Presented at the Montana Hospital Association's Spring 2009 Conference.
See more at: http://www.integratedhealthcarestrategies.com/knowledgecenter.aspx.
As a company, knowing how to structure your salaries can feel like a challenge. You want to offer competitive pay, but also need to work within your budget. Many companies use salary surveys as a way to discover what compensation their competitors are offering.
Presented at Global Scrum Gathering in Vienna 2017 #SGVIE
In the session we took a look at different approaches to the coaching of a team dependent on which development phase the team is in.
We learned how ScrumMasters can use knowledge of team dynamics as driver for team coaching and enhancement of self organization.
Have you seen teams go through phases in their development and maturity as a team? Have you had trouble how to best support a team in different situations?
A great ScrumMaster needs to be able to handle situations like the above. This is often done by observing the team and deciding how to best coach it to become self organized.
Related Article for context:
http://www.eremedia.com/ere/you-can-tell-your-talent-acquisition-story-to-business-leaders-in-one-page/
Over the years I have been asked by Talent Acquisition and HR leaders what is the best scorecard that you use to set expectations and educate executive leadership against Key Performance Indicators (KPI’s).
Rather than just continue to have those conversations one at time, I thought it might be helpful to share the scorecard template that I have landed on that produces the best outcomes I have found based of years of trial and error experience.
Talent Leaders & Hiring Managers: How to Win Over Your Most Critical Stakehol...Cielo
As a talent leader, it’s essential for you to form a strong alliance with your hiring managers. Otherwise, the only thing your talent acquisition team will experience is a slow, misaligned process that is bad for your internal stakeholders and worse for your candidates.
Involving hiring managers early in the process can ensure that your most critical stakeholders are also your most effective and enthusiastic recruitment partners.
View these slides to learn more about:
-Understanding the positive business impact of alignment among recruiters and hiring managers
-Learning important steps to implement at each stage in the hiring process
-Building a system for measuring and reporting program improvements
Onboarding & Orientation - How to on-board new employees. A Manual for HR and...HRM Toolshop
Is the on-boarding of new hires in your Company left to the Hiring Managers’ inspiration of the day? Do you want to help one of your clients in professionalizing their on-boarding process by offering them practical and effective on-boarding & orientation tools? Are you looking for best practices to ensure a successful integration of new employees in your company?
Step by step, this Guide describes how to thoroughly prepare the start of a new employee, organize an On-boarding Day, help the employee to get acclimatized in the new work environment, take care of the relevant post-arrival actions.
For each step in the Guide, you will be introduced to the relevant tools and templates and how to complete them: a Manual to help the Line Manager with the on-boarding process, an On-boarding Checklist, an Orientation Brochure, a Template for a First Impression Interview, and so much more.
Great hiring doesn\'t happen by accident; it\'s the culmination of a series of thoughtfully planned and well executed events. At the beginning of hiring well is a sourcing strategy. This strategy outlines responsibilities, articulates the steps, plans for contingencies, and defines success.
Building this strategy can be difficult. To be effective, it should include a robust audit of source effectiveness, ROI measures, and cutting-edge methods. It is a toolkit that will address holistic sourcing approaches but be flexible enough to be tailored for unique needs.
The Connection Between Employee Engagement and Glassdoor ScoresGlintInc
A recent study illuminates the significant link between employee engagement and both Glassdoor scores and stock value. Dr. Charles Scherbaum discusses the results of this analysis and provides concrete advice for systematically measuring and improving employee engagement in order to improve employer brand and financial outcomes.
Do your benefits align with your organization’s values and connect your employees to your mission? In a 2017 survey, polling organization Gallup found that only 41 percent of U.S. employees said that they knew what their company stands for. The same research showed that a 10 percent improvement in this understanding led to an 8.1 percent decrease in turnover and a 4.4 percent increase in profitability.
Used correctly, your benefits package can demonstrate your values and create a better experience for your employees, whether they’re at work or at home. Join BambooHR and League to explore how to use your benefits program to promote an improved employee experience.
HR Strategy - How to develop and deploy your hrm strategy - a manual for HR ...Anne Van de Catsye
Is your organization in need of a long term strategy for managing HR? Does your CEO challenge you to come up with HR plans that are aligned with the business plans? Do you have a strong strategic HR plan in your head but little time and no standard templates to turn this plan into a formal HR Strategy Document?
Having a clearly defined Strategic HR Plan helps you to become a strategic HR Business Partner, and will increase your credibility with Senior Management.
It will also help you to follow up on defined HR actions and report on progress in a highly professional way.
This manual explains in detail the 4 major steps to execute when defining and implementing your own HRM Strategy. You can use this manual as a guide during your projects, or as a development tool for your team.
Content within this Guide:
1. The Theory : Introducing the Concept & ModelWhat is Strategic HRM?
2. The Practice : A roadmap for creating your HRM StrategyHow to develop your HRM Strategy?
3. The Experience : Sharing experiencesHow to be successful?
Agile People - Habilitando la agilidad desde Gestión de talentoJohnny Ordóñez
Les comparto mi presentación en Ágiles Colombia 2019; con algunas técnicas y enfoques que me han servido durante estos años colaborando con áreas de Gestión de Talento.
4 Ways to Communicate Compensation That Drive Strategic OutcomesBambooHR
Compensation is one topic that we can be unsure how to communicate. This webinar shares important research on the why communicating compensation correctly is so important and how to do it so that it drives strategic outcomes.
Too much talent management is too complex. Talent management does of course incorporate genuine challenges and tough choices. But we don’t need cumbersome processes and practices to make life harder for our executives, managers and professionals.
Summarising talent management into “one page” is too big an ask. Here is our attempt to distil the issues into ten templates:
Presented at the Montana Hospital Association's Spring 2009 Conference.
See more at: http://www.integratedhealthcarestrategies.com/knowledgecenter.aspx.
As a company, knowing how to structure your salaries can feel like a challenge. You want to offer competitive pay, but also need to work within your budget. Many companies use salary surveys as a way to discover what compensation their competitors are offering.
Webinar - Pay Transparency Legislation Series, Ep. 8: The Importance of Meani...PayScale, Inc.
Join pay transparency enthusiasts from Apptio and Payscale to hear how organizations are approaching internal pay communication to build an engaged workforce grounded in transparency.
Employee Retention Strategies to Survive the Great ResignationKashish Trivedi
Onboarding reflects what your company is and ultimately leaves the first impression on new employees. A report indicates a 2.6 times increase in job satisfaction among new employees when they have a positive onboarding experience.
You can rely on learning management tools that streamline difficult or time-consuming procedures for companies to hire new employees. Leveraging a comprehensive learning platform allows you to create personalized onboarding experiences for new employees.
Extra steps need to be taken to make sure employees joining remotely feel integrated into their team. To achieve this, you could implement a virtual onboarding program that may utilize internal bots to help facilitate a more seamless connection within your team. Check for chatbot pricing and integrate an employee engagement bot within your onboarding activities to encourage icebreaker conversations.
Do your employees understand your company's compensation philosophy? That was a question posed to human resource managers in a recent WorldatWork survey, Compensation Programs and Practices.
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Join Payscale’s MarketPay Product Manager and Education team for a group discussion and training that covers roadmap, best practices, and how to implement range-based structures amidst the current pay legislation landscape.
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Join Payscale’s Chief Product Evangelist, Ruth Thomas, and Associate Director of Content Marketing, Amy Stewart as they discuss this year’s gender pay gap report findings and what this means for organizations looking to take steps towards fair pay.
To drive workforce performance, pay decisions must be perceived as being fair and appropriate by employees. This requires that decisions be transparently and effectively communicated to employees. Learn how you can redesign compensation training to ensure these potentially difficult but necessary conversations between employees and managers are successful.
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Join Payscale’s Director of Social Impact, Vicky Peakman; and Payscale’s Chief Product Evangelist, Ruth Thomas as they discuss pay transparency and its impending impact on European organisations and their HR/Compensation teams.
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Join a panel of Payscale pay equity experts as they share their expertise and step by step guidance around preparing for and performing a pay equity analysis.
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Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
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As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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2. Everything you need to know about pay transparency
Pay transparency (aka salary transparency or compensation transparency) is one
of the most hotly debated topics. It is because it isn’t rare for two people with the
same qualifications to be earning different salaries for the same position. Nobody
would have known a decade or two ago since salaries were considered a taboo
conversation subject.
However, today’s workforce doesn’t follow the same rules, and salary discussions
are more open and more legislation is coming into place. Almost 40% of the
responders to a Blind survey said that they had discussed their salary with at
least one other co-worker.
3. It is becoming more common for companies to be transparent about this. Glitch,
for instance, decided to share salary ranges for each of the roles. This move
toward transparency has been beneficial, according to their CEO. It created trust
between employees and the company. Including a salary range in the job
description also increased the application rate and earned the company praise on
social media.
Now, the question is, are you ready to be transparent about salaries and
decisions associated with your organization, and how transparent should you be?
Who is this article for?
Before you keep reading: this article is designed for companies who
are NOT currently under any legal obligation for transparency. If you
have legal obligations, please follow the guidelines stated.
4. If you are...
● NOT in a region where pay transparency is mandatory,
● Looking to boost retention & create a more fair compensation structure,
● Wanting to get ready for incoming pay transparency legislation.
then this article is for you!
Do You Need to Bare It All – Levels of Compensation Transparency
Choosing to be more open about salary discussions doesn’t necessarily mean you
need to publish all the numbers out in the open.
5. There are multiple levels of transparency, ranging from telling a person only
what’s owed to them to having an open salary structure. The level of
transparency ideal for your company depends on multiple factors, including the
type of workforce, company culture, practical possibilities, etc.
At this level, salaries are not published inside the company. Everyone can
negotiate their salary according to their negotiating skills, even if a hidden salary
grid may be in place to frame and define wages. There's a minimal discussion
about it, so companies don’t know whether employees are satisfied or not. And
employees have no idea of their potential increase if they move up within the
company, which can be a source of demotivation.
6. There's a minimal discussion about it, so companies don’t know whether
employees are satisfied or not. And employees have no idea of their potential
increase if they move up within the company, which can be a source of
demotivation.
Level 2: Knowing Your Salary and How It Is Calculated
A step ahead of Level 1, in this case, someone compiled guidelines for the
different roles and levels of each and assigned an appropriate salary range to
each group. Now, employees know how much they are being paid and can
compare it to the market standards. For example, someone can know that he is
being paid X amount based on a market study of salaries earned by people with
similar qualifications and experience.
7. At this level, it becomes crucial to have a reliable benchmarking tool that
provides data from companies in similar stages of growth. It will allow
companies to have trustworthy and unbiased information, but this will also
reassure employees on the validity and seriousness of the approach.
Level 3: Knowing the rationale for salary decisions
This step is another significant one toward pay transparency. One-on-one
discussions about the policies and the reasoning for different salaries can be held
open. Employers must be available to discuss why they can or can’t match
salaries being paid by another company.
8. Contrary to what you may believe, clearly stating that the company cannot match
the market standards will not make all your employees leave.
While some companies cannot match the salary, they can offer other benefits
such as a remote location, or working for a positive impact project such as the
French start-up EcoTree, labeled B-corp.
Level 4: Knowing Your Salary in Comparison to the Minimum and
Maximum Range
9. To reach this stage of transparency, companies need to have a defined salary
structure. An employee knows the salary range earned by people in similar
positions across the company and knows what they need to do to make more.
For example, Whereby achieved this level of transparency by using a simple
process to build their salary grid:
1. They decided on their philosophy, i.e., which company they wanted to
become (flexible, inclusive)
2. And then, they decided to translate this into a set of rules
3. Which translated into a salary scale accessible to all
10. As Jessica Zwaan, COO of Whereby, explains, “this means we lead with the
philosophy first, rather than looking at our team’s salaries and then coming up
with rules based on our current pay rates.”
It is important to remember because it enables companies to be as fair and
objective as possible and create a philosophy that is not driven by past decisions.
Level 5: Knowing It All
The final step of the pay transparency spectrum is about putting all your
calculations out for public viewing. Employees know how much they make in
comparison to others. Everyone else does too. An online search for “position at
company X salary” may give you the exact amount paid. This is not an easy level
of transparency to maintain.
11. Buffer decided to make all salaries public in 2013, and even though employees
were initially a little wary following this decision, they wouldn't go back! The
team is openly talking about money and asking for fewer raises because
everything is more apparent with a base salary based on average wages in the
field and the cost of living.
The Rewards and Risks of Pay Transparency
There are a lot of advocates for pay transparency, but while some believe that
clarity brings about equality and trust, others wonder whether it can divide the
workforce. There are both advantages and disadvantages to starting a discussion
about salaries.
12. Let’s Talk About The Rewards First
The ‘How’ and ‘Why’ of salary structures make employees more satisfied with
their current position while showing them the steps they need to step up to the
next salary bracket. Happy employees can focus better on their responsibilities
and are more productive.
Pay transparency instills an essential level of trust in your organization. When
people know why they earn what they do, they’re more likely to trust that your
compensation decisions are made strategically and not on an ad-hoc basis. As a
result, 81% of workers say they are more productive when paid fairly.
13. Our 2022 adjusted gender pay gap analysis showed that transparency drives
equal pay:
14. It also facilitates the annual salary review. When it’s time to ask for a raise, the
employees will be in a more informed position, and employers will have to see
fewer rounds of negotiations.
Sweden’s Example and Approach to Pay Transparency
Taking a proactive approach to pay transparency can also help with compliance
in light of how governments push new legislation about pay transparency. The
Swedish Discrimination Act was passed long ago in 2008. This law requires all
companies in Sweden with over 25 employees to issue annual surveys on salaries
paid. If wage discrepancies are discovered, the firm faces a high fine.
15. Sweden’s commitment to an open salary policy and equality has been influential
in cultivating trust at every level amongst co-workers and between employers
and employees. Swedes are also permitted by law to request the tax returns of
any other Swedish citizen. It cannot get more transparent than this.
Other countries like the UK and Norway also have similar transparency laws.
European measures are also being discussed on pay transparency, and a draft
directive on gender pay transparency was published last spring.
16. The Flip Side Of Pay Transparency
No matter how rationalized, employees may feel bitter about their colleagues'
earnings. Some employees may feel uncomfortable knowing their salary is public
knowledge. 27% of the respondents to a survey said they would not like to discuss
their compensation publicly.
Employees who suddenly discover they are “underpaid” become more
dissatisfied with their employer and more likely to depart. They may be
uncomfortable collaborating with colleagues who earn more, and projects could
slow down. Ultimately, good employees may leave your company if they feel
undervalued.
17. One problem raised with pay transparency is that it causes individuals to focus
on comparing salaries rather than improving performance.
However this is one drawback to a practice that your employees and candidates
otherwise benefit from.
How To Do Salary Transparency Right
There are pros and cons of pay transparency. It doesn’t have to be all or nothing.
Your approach is what matters.
Until your company has legislative obligations from a directive or law, preparing
for transparency doesn’t follow a specific path, but there are a few basics you
need to get done.
18. #1 Define company culture towards transparency
Firstly, as an organization, you need to assess what company you want to be and,
thus, which level of transparency you hope to achieve. Radical transparency can
be just as extreme as keeping silent. Next, you need to define salary policies
clearly. You need trustworthy benchmarks as market research. You also need a
clear strategy, well-structured pay ranges, and a plan for its execution.
19. #2 Ask employees about it
Pay policies are primarily about employees, so ask them what they think about
your compensation philosophy and desires in this regard! Are they comfortable
sharing their salary? What are their fears? What are their suggestions? This will
help you finalize (and reconsider maybe) your approach to transparency.
#3 Communication is the key
Finally, you need to train people in communicating your compensation plans.
When employees want to talk about salaries, they usually turn to their managers.
Hence, your managers need to understand the basics of your company’s
compensation structure. Guide them on connecting the dots between the
compensation offered and the company’s cultural values.
20. The communication across the company needs to be consistent. People may get
different salaries based on their roles and qualifications, but equal opportunities
must be available to everyone. For example, if stock options are available to one
employee of a specific pay grade, they should be available to everyone in that
segment.
Key Takeaways on Compensation Transparency
Following a policy of transparency for salaries has many advantages, but you
need to think carefully about how you plan to go about it.
21. Without a transparent company culture backing it and a clear compensation
communication strategy, transparency can be troublesome. After all, people are
emotional about salaries, and part of their self-worth links to the perception of
where they stand compared to others.