Would you share your salary with your colleagues? Obviously no, right? Because it's as awkward as a first date that gets spoiled.
But pay transparency is transforming things in the corporate world. According to a Payscale report, organisations with pay transparency witness 30% fewer employees quitting. Here's how pay transparency can affect your business :-
1] Boosts Trust and Morale : Knowing everyone's cards on the table, levels the playing field, promoting a transparent workplace.
2] Reduces the Gender Pay Gap : When salaries are out in the open, it's harder to justify paying one group less.
3] Attracts Better Talent : Clear compensation makes a great impression on the candidates, portraying the real picture.
Yet, transparency isn't all rainbows because it might spark rivalries and civil wars. But who doesn't love a little drama?
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Would you be comfortable sharing your salary at work?