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Exposing Pay: Policy Implications and Research Challenges
Ist Teil von
The Journal of Total Rewards, 2023-07, Vol.32 (3), p.1-1
Ort / Verlag
Scottsdale: WorldatWork
Erscheinungsjahr
2023
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
Pay transparency has been a contentious issue for over a century, with proponents arguing for its ethical and societal benefits, while opponents highlight privacy concerns and potential risks. Recent empirical research has provided evidence to support both sides of the argument, showing that pay transparency can impact individuals, organizations, and societies in various ways. The adoption of more transparent pay processes has been found to benefit both employees and employers, promoting fairness perceptions and accountability. Similarly, lifting restrictions on pay communication transparency can enhance employee freedom and limit managerial opportunism. However, the implications of pay outcome transparency are more complex, with potential benefits for motivation and pay equity, but also negative consequences such as envy and counterproductive behavior. Public policy initiatives can enhance labor market competition and address pay disparities by protecting pay-related communication, prohibiting pay history inquiries, mandating pay audits, and providing safe harbor protections for employers. Further research is needed to understand the effects of pay transparency on wages, firm performance, and pay communication policies. Practitioners can navigate the transition to more transparent pay communication by ensuring fair pay structures, providing compelling explanations, and training managers to effectively communicate pay information.