By Debbie Bolla
Pay transparency has been making headlines in recent monthsâand is a goodÂ reason our Editor-at-Large Michael Switow reports on the progress of genderÂ inclusion in organisations across the APAC region in Increasing Equality.
Pay transparency was also named one of 2019âs top four trends by this yearâsÂ LinkedIn Global Talent Trends survey. In fact, the survey found that 53 per centÂ of talent professionals rate it as very important trend to the future of HR andÂ recruiting. Breaking down the feedback from more than 5,000 professionals inÂ 35 countries further, the survey shows the importance of pay transparency byÂ geography:
- China: 61 per cent
- India: 57 per cent
- Southeast Asia: 56 per cent
The LinkedIn Global Talent Trends survey also recommends these seven bestÂ practices to encourage pay equality:
- Conduct an internal audit to use as a benchmark and identify pay gapsÂ across gender, race, and role.
- Determine the best pay transparency policy for the organisation and itsÂ culture.
- Gather employee feedback through surveys, individual interviews, and townÂ halls.
- Outline the factors that determine an employeeâs 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 rightÂ direction of pay equality.