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Apparently, Knowing Others’ Salaries Is Good for Business

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Nov 30, 2018

Salary

Don't misapprehend the title above. It's indeed accurate that of all time, recognizing others' salary, whether it's coworkers or bosses, is a taboo thing and doesn't have a spot in the discussion topic. But apparently, a recent study showed that this could be debated openly.

The research was conducted by a cloud-based compensation software provider, Beqom, called "2018 Compensation and Culture Report" and revealed the fact about how United States employees perceive the salary. Furthermore, they found out the result that there are still a lot of employees believe that the compensations for the workers aren't equal one another.

Demographically, there are 1,200 United States employees as the respondent with the survey methodology by addressing 17 questions by Pollfish. The result showed that the salary could be discussed flagrantly. 45 percent of the respondent indicates they know the salary of the coworkers, and 46 percent also discussed it easily.

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The Taboo Persists

With the tradition to talk discreetly about salary and turns out to be hot gossip, it also contributes to the fact in Beqom research. Consequently, 31 percent of US employees don't consider the company gives fair compensation to the workers.

48 percent of them also thinks man workers are paid higher than the woman in the same company despite the similar capability, experience, and performance. Furthermore, this is regarded as the most influential in the field of technology, banking, healthcare, and education.

But once again, this is merely based on the feeling, not the fact. One-third of the respondent supposes the company pays the workers based on the feeling, not the skill.

Besides, we can't deny that the employees are reticent to talk about salary to their boss. Mostly, 29 percent chooses to find a new job due to the dissatisfaction to the current salary, compared to the 19 percent respondent who prefers to discuss their salary with the manager.

Moreover, there is another thing that is highlighted: the salary gap between CEO and employees. In fact, 78 percent respondent guesses CEO and those in the executive positions paid much higher than them.

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So, the Solution Is...

Feeling pessimist after observing the data above? No worries. There's still a hope for the company to develop a healthier working environment when it comes to employees' salary and compensation.

First of all, make sure that you prioritize the transparency and trust in the company. Moreover, it's more common now the presence of companies who entitled the fairness, inclusion, and honesty for all workers. It's a gesture of respect and value.

Comprehending from the business perspective, this is reasonable. With a positive and transparent working environment, there would be many more benefits to come. Let's say, the trust and motivation to work harder.

Who Can Rule Out the Taboo?

Absolutely, the answer of above question would be the young generation, especially Gen Z with 61 percent declares that they are ready to discuss the salary openly with the coworkers. Besides, the fact also said that Millennials generation represented by 55 percent and Baby Boomers generation with 27 percent.

Thus, it's no longer the era to gossip discreetly about others' salary. It's time to discuss fairly and transparently regarding the salary, and erase the perception as a taboo thing.

Certainly, this will drive the employees to work passionately, to erase the gap between seniors and juniors, and to gather all the inclusions within a company.

So, which side are you?

More to Read : Millennials Generation, the Risk Taker

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