6 months ago 03rd May 10:33
LONDON, UK – 1 MAY, 2008 – In a bid to eradicate pay inequality, UK employees are prepared to challenge one of the biggest workplace taboos and reveal their own salaries.
New research by global recruitment and talent management consultancy, Hudson, reveals that 60% of workers would be comfortable revealing what they get paid to colleagues in order to achieve pay parity. A similar number (62%) believe that senior managers should have to disclose what they get paid to the rest of the workforce. The findings represent a warning to employers that pay and pay reviews need to be fair and transparent throughout the organisation, in order to avoid the risk of losing talented employees.
Two thirds of professional employees (63%) believe that more transparency about pay would reduce the gender pay gap, helping avoid a situation that still sees men paid, on average, 17.2% more than women in the same position. Hudson conducted the study among 1,000 UK workers in professional employment to assess how employees’ attitudes to the traditionally sensitive issue of pay might have changed in light of recent damning reports into the gender pay gap from Government and trade unions.
Andy Rogerson, chief executive, Hudson UK, said: “British employees are ready to break one of the biggest taboos in the workplace – revealing salaries – in order to ensure true equality of pay. The gender pay gap persists, and businesses that neglect to address it are risking alienating half their workforce. Those that promote equality and back this up with visible action will prosper – particularly in an economic climate where retention of the right talent will become more business-critical.
“A policy of salary disclosure at all levels is not likely to be appropriate at many organisations, clearly. But the underlying principle, of ensuring fairness and transparency in the process of setting and reviewing salaries, is a good one.
“However, being open about earnings can be motivational. At successful listed companies, where board executives have to disclose their salaries, such openness can fuel the aspirations – and the performance level – of those employees with an eye on a top job. It can also help a company’s retention figures, by contributing to a culture of fairness and honesty.”
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