What You Need to Know About Pay Transparency

First of all, what is pay transparency? Visier defines pay transparency as “the practice of employers openly sharing compensation practices at their organization”. This can take many different forms depending on the organization. Some companies like Buffer have gone so far as to publish the salaries for everyone in their organization. Going to these lengths isn’t the norm but it represents how much some companies value transparency. Others have chosen to disclose the system used to make compensation decisions.

Why Does it Matter?

One of the clear differentiators that millennials and Gen Zers have with their counterparts from other generations is their openness to discussing compensation. According to a study performed by Visier , 89% of Gen Zers say they’re somewhat or very comfortable discussing their salary, compared to 53% of baby boomers. This isn’t a passing trend, but a shifting paradigm that employers should recognize sooner rather than later.?

New Regulations for Hiring

States like New York, California, and Colorado have enacted laws requiring employees to provide a salary range on job postings. Roughly 20% of employees in the U.S. work in a state with some form of wage transparency bill on the books.?

A study performed by ResumeBuilder.com found that 85% of workers say they’re more likely to apply to a job that lists a salary range. In a time where hiring is competitive and much of the power during the hiring process rests with the candidate, sharing information such as a salary range can be a key differentiator for businesses looking to attract top talent.

What Should You Do?

The first step for many organizations is to weigh the pros and cons of pay transparency and decide what is best for your team. While employees are overwhelmingly in favor of pay transparency that doesn’t mean increased visibility doesn’t come with risks.?

The second step is to create a communication strategy for how you want to share this information with your organization. Bringing salary information into the light might lead to internal conflict and questions from your team. Considering these possibilities and putting a plan in place to communicate clearly with your employees is a vital step in this process.?

Finally, stay up to date on how other businesses are handling the pay transparency conversation. Some companies, including several in the “big tech” space, have come under fire for job postings with salary ranges that stretch over $100,000. Keeping a sharp eye on how other companies have handled this issue can help you avoid potential pitfalls and even serve as inspiration for how you want to approach it within your organization. #paytransparency

Do You Know Grocery Store Mike?

Mike Cook or as he is known in the industry "Grocery Store Mike", is a specialized grocery retail recruiter for Frontline Source Group. With more than 35+ years in the grocery retail industry, Mike started as a part-time courtesy clerk. He worked his way up to serve in-store leadership positions with both traditional and specialty food formats.?

His expertise lies in hiring, training, and developing company leaders for small supermarkets to large grocery store operations with hundreds of locations. This experience is what differentiates his ability to recruit top Grocery talent from other recruiters in the marketplace.

Click here to get in touch with #GroceryStoreMike !

What Staffing Trends Can We Expect in 2023?

It's a New Year, which means a clean slate and a new start for your hiring process. So what staffing trends can we expect this year? With many things still carrying over from changes we made during the pandemic, some things are now shifting to a new normal. Here are some of the things we should see in 2023.?

Read the full article now on the Frontline Source Group website.

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