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Transparency is a corporate value to strive for, but not all companies are ready to be completely transparent about pay. While some employers feel the benefits of open salary policies outweigh the risks, others are understandably concerned about the potential challenges they can create.
The pursuit of the right talent continues to be highly competitive and, according to the latest research from PayScale, that pursuit is shaping compensation programs and strategies. In fact, PayScale’s 2017 Compensation Best Practices Report (CBPR) reveals a shift in strategy, as well as a gap between the perceptions of employees and employers with regard to pay.
Would your employees say they are paid fairly? A perception of fair pay is imperative in employee retention. On the flip side, a perception of unfair pay can be a powerful motivator for employees to leave the company.
by Lisa Higgins, Contributing Editor Is pay transparency right for your organization? Many believe in a more-is-better approach to transparency in compensation, and there are some great reasons to explore the idea. But not everyone is on board.
Just over half of U.S. employees believe they are being paid fairly compared with workers who hold similar jobs either at their own or other companies, according to the 2016 Global Workforce Study by Willis Towers Watson, a leading global advisory, broking, and solutions company. At the same time, a companion survey of U.S. employers […]
By Susan Schoenfeld, JD If you are a regular reader of hr.blr.com, you know that the Office of Federal Contract Compliance Programs’ (OFCCP’s) final pay transparency rule took effect on January 11, 2016.
by Connor Beatty Picture this: A manager calls his subordinates into a conference room and asks them to write down their salary and pin it to a board for everyone to see. The thought of that may make some of you cringe worse than many of the moments on reality TV. In fact, this idea […]