Salary Transparency? Survey Reveals Older Employees Far Less Likely To Disclose Pay
Over the last several years, a movement has emerged promoting salary transparency throughout various industries, which, according to Glassdoor.com “helps expose pay gaps between otherwise similar workers, encouraging underpaid employees to negotiate or move to better-fitting jobs, improving overall efficiency in labor markets.”
“In recent years, there has been a gradual shift away from traditional workplace secrecy and toward more transparent salary policies,” according to a 2015 report by Glassdoor chief economist, Andrew Chamberlain.
According to a January survey of 1,500 workers conducted by career resource site Zippia, it may simply be suffering from a lack of participation – particularly among older workers. In fact, 50% of workers overall are unwilling to share their salary information, while 30% of workers say they would be uncomfortable sharing their salaries, period.
Workers 25-34 years old are most comfortable sharing salary information- a whopping 58% are willing to discuss salary. Who is less eager to share? Older workers. In particular, those over 45.
As this age group ages and advances in their careers, this open attitude could increase salary transparency. However, it is possible younger workers will shed their desire to freely share salary information as they are promoted. –Zippia
More findings via Zippia:
- Another are 20% uncertain about whether or not they’d share how much they make.
- Only 45% of workers feel they are adequately paid; Another 25% say they are “somewhat” fairly paid.
- 25-34 year olds are most comfortable sharing salary information- a whopping 58% are willing to discuss salary.
- Those over 45 are least willing to share their salary at work.
- Half of workers would ask for more money if they knew coworkers made more than them.
- It pays to make friends: 29% of workers report they would only feel comfortable discussing salary at work with close, friendly coworkers.
- Good luck finding our your boss’ salary: Only 6% would feel comfortable telling someone who directly reports to them how much they make.
Here’s a US map with salary transparency by state:
So, does salary transparency lead to higher pay? That’s unclear – but workers who are expecting a ‘large raise’ were most likely to disclose their salary than those not expecting a large raise.
Meanwhile, Indeed.com found in January that most workers and job seekers want to know where they stand. They also found that 66% of those surveyed have never shared their salaries on a job website, while only half have shared their pay with friends, and 60% say they’ve never asked a co-worker what they make.
21% of those surveyed say it feels taboo to discuss pay, with around the same number of people saying that they don’t want to create drama at work, according to Indeed. 14% worry about getting in trouble with management for asking or telling.
The bottom line, “For employers, fair pay and salary transparency aren’t just noble aims—they are proven strategies to attracting and retaining talent while also encouraging higher engagement and productivity. “
Wed, 02/10/2021 – 22:25