Why It's Time to Be More Transparent About Pay
from Get Reworked Hosted by Mike Prokopeak and Siobhan Fagan
For many people, talking about pay is one of the most difficult conversations they have at work. One reason is that it's so tightly tied up into their perceptions of their own self worth and value. In this episode of Get Reworked, we talk to David Turetsky, vice president of consulting at Salary.com and host of the HR Data Labs podcast, about pay transparency and why companies should be more open about what workers get paid. More often than not, secrets lead to deals that are ultimately bad for business. "Bargains are bad," David said. "People shouldn't be offered bargain deals. When recruiters hire people, they should be recruiting them for the job at the pay they're going to pay other people. And there shouldn't be this secretive back-and-forth." Highlights of the conversation include: Why it's so hard to talk about salary in today's workplace. How pay transparency can lead to greater pay equity. Why opening up with employees about pay won't lead to bad results for business. The role of regulation and legislation in making pay more transparent. Why basing pay on location is short-sighted in today's market. Plus, co-hosts Siobhan Fagan and Mike Prokopeak talk with David about universal basic income, the importance of a realistic minimum wage, and what it will take for them to open up about their own salaries. Listen in for more. Have a suggestion, comment or topic for a future episode? Drop us a line at [email protected].
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