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Prosper Consulting, LLC

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    • HR & Compensation Consulting
    • Career & Pay Negotiation Coaching
    • Workshop & Speaking Topics
  • About
  • Community
  • Careers
  • Contact
  • Resources
    • Blog
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    • Career Resources
    • Connect on Social Media
    • Free Pay Data
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Unveiling Compensation Details: The Pay Transparency Movement

August 5, 2024 Denise Liebetrau

1.      Pay transparency happens when employers post the wage range that they reasonably expect to pay for a position.

2.      Pay transparency happens when employers make reasonable efforts to announce, post or otherwise make known all opportunities for promotion to all current employees on the same calendar day and prior to making a promotion decision.

3.      Pay transparency happens when one employee shares with another employee what they are earning in base pay, bonus, sales commission, and/or equity.

4.      Pay transparency happens when a manager talks with an employee about their desire for a pay increase and what performance needs to be demonstrated for the increase to happen.

5.      Pay transparency happens when HR posts compensation guidelines and the processes they use to make pay decisions in a consistent manner. And managers and employees can use this information to better understand why their pay is at the level it is for their job and performance.

6.      Pay transparency happens when an employer communicates the results of their pay equity audit and the way they fixed disparities.

7.      Pay transparency happens when an employer posts their pay grades and base salary ranges for employees to view.  Or you can be less open and share with an employee only the base salary range for the job they are performing.

8.      Pay transparency happens when employers review the laws that require more disclosure about pay and the employer complies.

9.      Pay transparency happens when it is no longer taboo to talk about pay with your manager, your peers, or your direct reports.

10.   Pay transparency happens when an employer shares the market pricing details for a job.

Pay transparency helps to improve employee trust, retention, attraction, engagement, motivation, and productivity.

Employers: What is getting in the way of progressing your pay transparency goals?

Employees: What do you want to know from your employer that isn’t being shared?

#paytransparency #payequity #compensation #rewards #hr #humanresources #pay #fairpay

← Pay & Empathy: Your Most Powerful Leadership ToolsTransparency Boosts Pay Satisfaction & Engagement →

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