By Debbie Bolla
Pay transparency has been making headlines in recent months -and is a good reason our Editor-at-Large Michael Switow reports on the progress of gender inclusion in organisations across the APAC region in Increasing Equality.
Pay transparency was also named one of 2019’s top four trends by this year’s LinkedIn Global Talent Trends survey. In fact, the survey found that 53 per cent of talent professionals rate it as very important trend to the future of HR and recruiting. Breaking down the feedback from more than 5,000 professionals in 35 countries further, the survey shows the importance of pay transparency by geography:
- China: 61 per cent
- India: 57 per cent
- Southeast Asia: 56 per cent
The LinkedIn Global Talent Trends survey also recommends these seven best practices to encourage pay equality:
- Conduct an internal audit to use as a benchmark and identify pay gaps across gender, race, and role.
- Determine the best pay transparency policy for the organisation and its culture.
- Gather employee feedback through surveys, individual interviews, and town halls.
- Outline the factors that determine an employee’s pay rate.
- Train managers about pay practices and ways to communicate them.
- Determine a timeframe that is manageable to roll-out the programme.
- Communicate the policy and align it to company core values if appropriate.
Armed with these strategies, organisations can continue to move in the right direction of pay equality.