An excellent report from Visier demonstrates what most of us in recruiting already knew – job seekers and employees desire some level of pay transparency. This movement has been steadily gaining traction, most notably with legislation popping up across the country. Forward-thinking employers will take notice and begin to make changes in their organizations.
While there are significant variations in how employees define or experience pay transparency, particularly when comparing Gen Z against Baby Boomers, the majority of respondents seek transparency in some form. How pay transparency will look at your organization largely depends on your people and culture.
This is a critical opportunity for employers to upskill their employees and managers about their pay practices. Visier notes that by implementing these practices, organizations can “cultivate trust and improve retention with their workforce.”
Check out the full source report here. If you missed last month’s CXR discussion on pay transparency, be sure to watch it here.
