Pay Transparency: The Evolution of the Workplace

Pay Transparency: The Evolution of the Workplace by Lisa Blanchard and Nick McDonald

When it comes to being a workspace of the 21st century, companies need to evolve with the times. Your company may have started as a unicellular organism, but to thrive in today’s professional ecosystem you need to evolve into the multicellular company employees desire. How can your business catch up with progressive organizations?

Pay Transparency

Promoting pay transparency for your company can help with many different aspects of an employee’s life cycle within your organization. Pay transparency can help in the recruiting process, placements, and retention.

The First Step

The first thing companies can do is include the pay scale for positions in the job posting. This will help you showcase what you think this position requires as far as experience, and let an applicant know if there is a disconnect. Additionally, it helps keep the pay for that role transparent, forcing you to be an equitable employer. When it comes to DEI initiatives this could go a long way. This also helps workers feel more satisfied and be more productive in their roles knowing the pay is fair. Including pay in the job posting can also lead to current employees recruiting through their own personal networks.

Keep Communication Open

Companies should not try to discourage employees from discussing their pay. Employees are already discussing pay in the workplace, and you cannot stop them. Not only do you have no legal ground to stand on, but it is just an impossible task to enforce. Make sure that when employees do speak about their pay that the company does not discourage the discussion. Instead you should have a fair pay structure and clear guidelines for merit increase initiatives. These are tools that can be used during discussions of pay and lead to positive results with employees.

Are you ready to come into the 21st century with your multi-generational workforce? Remember let’s be progressive not regressive. If you are ready to speed up your HR evolution, contact HR NOLA today.

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