Company salary transparency has become a buzzword, as of late, because of the global economic crisis. The world has been facing a tough time and businesses need to ensure that their employees are treated fairly and with respect in terms of their salaries. Pay raises are a part of any business; however, you need to know your employees' salaries before you offer them a pay increase. If the company offers their workers an extra hundred dollars per month, they need to know what their employees are currently making. This is where the company salary transparency comes into the picture. Knowing what the employees are earning enables the company to determine whether or not a pay raise is warranted. You might be wondering, should salaries be transparent? Find out more here. Employees who do not feel their salaries are fair should inform their employer right away. The employee needs to be able to put forth a good case for why their salaries are fair, and they should also be able to get the company to listen to their side of the story. If the company is unaware of what their employees are earning, then they should investigate the employee's salary and verify their salary information. Employees that are receiving pay raises should be provided an explanation for the raise, and they should be made aware of the possibility of having their raises delayed until after the economy recovers thus the importance of the company salary transparency. In many cases, the employees' raises may have already been delayed; however, this is not always the case. The employee needs to make sure that their manager is aware of the possible delay; otherwise, they may end up waiting indefinitely for their raises. Waiting on a raise for several months could cost them more money than the increase would have if the raise was given immediately. Employees who find out that their salary is below the level set by the company need to make sure they keep their cool. Employees should not be too angry about being offered a lower salary because they may be able to negotiate it a little bit lower down the line. However, employees should make sure that they are being paid their true worth. If they feel their worth is not being met, they should let their manager know about this so that they can rectify the situation. Company salary transparency is important; however, employees need to be able to recognize when their salaries are not being set appropriately. This allows them to take control over their salary expectations and their compensation. Learn more about salary here: https://en.wikipedia.org/wiki/Salary.
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