What was once a taboo subject, is now openly discussed in workplaces across the country. That’s right, we’re talking about employee compensation. With websites, like Glassdoor, that openly showcase the average salary for any given role, gone are the days of trying to keep “pay” a secret.
While salary isn’t the only reason why people change jobs, it’s one of the main reasons. If you aren’t offering a competitive salary, you can kiss landing that perfect candidate goodbye. And if your company hasn’t adopted a transparent “pay” culture, you risk missing out on creative talent, especially if you’re in the advertising and marketing industries.
Companies and employees in the creative industry are opening up about compensation, new research from staffing firm The Creative Group shows. Over three-quarters of advertising and marketing hiring managers surveyed (77%) said their organization offers some level of salary transparency, with 34% reporting full transparency.
When asked to name the greatest advantage of instituting an open pay policy, the top response was helping close the wage gap (23%), followed by creating an atmosphere of trust and collaboration (21%).
The infographic below offers more insights into these survey findings. To learn more, click here.
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