‘Pay Secrecy’ one of the best kept secret by the HR , which the world comes to know otherwise!
We have tons of research to support how it adversely affects your performance when you get to know how much your undeserving co-worker is getting paid. Is that the only truth ?
Does secrecy breeds trust or transparency? Why as an employer would you want to hide when you have a policy for equal employment and promote equal pay? Is the information of how much an employee draws worth sharing openly within the company or even public domain? In the times of Glassdoor and Payscale, how secret is your pay to your employees?
We can understand the ugly situation of explaining every employee why one is paid more than other, inspite of in-equal education or experience is sticky. More importantly your view of weighing a potential may not remain equate how your employees measure them. But shouldn’t that remain self-explanatory in a result-driven world?
How did Whole Foods manage to make the information salaries open? That too since 1986? They managed to let every employee view how they are stacked up and not loose them? Or run into low-productivity? Why are the talent working in their company behaving differently and not raising a storm in a tea cup with their questions on entitlement ?
In India, Public Sector organisation have grades declared with the pay range. Talents joining such an organization have the exact information on how the hikes would work for them and their peers. Even the timeline to all such hikes remains declared.
When Buffer declared their salaries on the web the number of job applicants grew effortlessly. SumAll followed the lead, with the firm creating transparency within the 40 member team.
With Gig Economy growing through platforms that allow a talent to bid for the gig, how far does the pay remains a secret? When end-result is the only measure, shouldn’t pay remain obvious? If merit is the only edge, how difficult is it to explain potential?
If you have any HR Query or any query on Future of Work, please email me firstname.lastname@example.org . Looking forward to learn more while finding solutions for you.