With an average gender pay gap of 17.3% across all industries in 2019, women’s rights advocates and advocates for pay transparency say it could help close the gap if most workplaces and companies introduced ‘Pay Transparency’
It’s always been considered a taboo to discuss your salary with coworkers. When the awkward topic of conversation arises within the workplace you either feel as if you have been unfairly treated and should stand up for yourself with the gathered evidence and information you now possess, or you feel you may have rocked the boat by opening up discussions around how much you earn. Frankly, we shouldn’t have to feel this way. However, the reality is that the secrecy surrounding salaries typically benefits the organisation more than the employees and whilst almost being out of our control, it is also within our rights to challenge these taboos, especially if our co-workers are the opposite sex, this raises many questions and paranoia leaving our brains wiring.
Pay Transparency– What is it? Pay transparency is the practice of allowing your company’s employee compensation figures to be visible to other people, either internally, externally, or both. Research has proved that this helps attract a more diverse workforce. People join organisations based on what they do, not what they say. They want to see tangible proof that companies encourage diversity. ”When pay is transparent, organisations must be able to justify each employee’s salary – thus reducing or eliminating any type of bias.
Whilst pay transparency would absolutely help boost trust, morals, and productivity in general, unfortunately, it is still not widely adopted, because many organisations fear that revealing employees’ salaries will result in too many complaints from disgruntled workers, and this is probably the case. One advantage of pay transparency is it highlights any gender disparities in pay. Still in 2020 we are challenged and face gender pay gaps within certain industries and job roles. Adopting this method within the workplace would be a really beneficial tool to close the pay gap as employees would know what each of their colleagues make. Currently, 27% of HR and hiring professionals say their company shares salary ranges with employees or candidates, with a further 22% saying they’re likely to start within the next 5 years. Still more than 51% of salaries are still shrouded in secrecy, and that’s unlikely to change anytime soon.
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