Millennial and Gen Z workers were nearly twice as likely as Baby Boomers to discuss pay with their coworkers.

Even when employees were subject to a pay secrecy policy at work, over half of Millennials still discussed pay with coworkers, while only 26% of Baby Boomers talked about compensation.

Women are more likely than their male counterparts to discuss pay with coworkers (both in workplaces with pay bans and in workplaces without), likely because they have more to gain from discussing pay.

Learning about pay discrepancies is the first step to closing them.

Look at the ages of your employees.

What percentage shared salary information with a coworker or other professional contact?

·       Gen Z (1997 to 2012, ages 18 - 26) – 42%
·       Millennial Generation (1981 to 1996, ages 27 - 42) – 40%
·       Gen X (1965 to 1980, ages 43 – 58) – 31%
·       Baby Boomers (1946 to 1964, ages 59 – 77) – 19%

(Sources: Forbes, CNBC, Bankrate)

#payequity #paytransparency #humanresources #compensation #rewards #hr