HRO Today April 2017 - 41

Payroll
Building Trust
Through
Transparency
Organizations are embracing new strategies around compensation
to engage employees.
By Mykkah Herner
There is a sea of change coming in the way that
employers approach pay, as many companies are
examining and modernizing their compensation
philosophy in an effort to build more trusting
relationships with their employees. PayScale's 2017
Compensation Best Practices Report examines the
relationship between pay practices and business results.
The survey results show that organizations are starting to
do things a bit differently when it comes to pay. It used
to be that employers held all the cards when it came to
compensation. Executives would set pay for employees
and determine the size of a raise, and then employees
would be told about any potential pay adjustments
once per year (usually at the end of an annual review).
The whole process was very transactional and typically
shrouded in a great deal of secrecy.
However, that model is now changing. Increasingly,
employees already know what they're worth on
the talent market thanks to online resources. These
employees want to have a voice at the bargaining
table when it comes to determining their pay. So pay
is essentially becoming more of a dialogue at many
companies and less of a one-way dissemination of
information. In addition, many companies view pay
practices and conversations about pay as a pathway
for building more trust with employees and increasing
employee engagement. When employees understand
how pay was determined and feel valued at an
organization, they're likely to be more satisfi ed with their
job and give a bit more effort.
Community-based participatory research (CBPR) has
recently revealed some of the key fi ndings about pay
practices and employer attitudes. These fi ndings refl ect
a transformation in how companies determine pay
practices:
* Organizations set their sights on increased transparency.
Thirty-one percent of organizations surveyed identifi ed
themselves as having a transparent policy about pay.
These employers share market data with employees
about compensation and show them where they fall
in relation to the salary ranges at the company. More
companies are planning to become transparent over the
APRIL 2017 | www.hrotoday.com
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HRO Today April 2017

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