Salary Transparency Has Huge Payoffs

Big changes are happening in the progress towards pay equity, including recent announcements that California and New York will require companies to disclose salary ranges starting in the new year.?

So what does this mean for tech companies north of the border?

If you haven’t started pay equity conversations in your company, you could already be behind.?

But you’re not alone. New pay equity report from Harvard Business Review indicates that 50% of companies do not have pay equity programs, and 25% have ineffective ones.?

To kickstart your pay equity discussions, here are the most important first steps:

Self awareness

Check in on the current status of pay equity, either by working with an employment organization or by conducting anonymous employee surveys.

Transparency and Openness

From posting salary ranges with job postings to encouraging compensation convos, there are many ways to increase company transparency about pay.

Open communication?

Be clear with employees on pay equity strategies and practices, and encourage feedback from those who are directly impacted by new policies.?

Crunch the numbers?

Activate your techie superpowers, and look at what the data says! Consider market rates and industry benchmarks when determining salary ranges.

The full report and further pay equity details are available at: ?

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