Seven in 10 workers want more transparency around pay

More than half of workers feel that they would have to switch employers to get a pay rise, according to the Global Salary Transparency Survey conducted by recruitment marketplace, Glassdoor.

Almost 70% felt they should have a better understanding of fair market pay, and under half of employees globally (47%) said their company shared pay data internally.

The Glassdoor survey polled 4,300 adults employed full-time and part-time in seven countries (the United Kingdom, United States, Canada, France, Germany, the Netherlands, and Switzerland).

Dawn Lyon, Glassdoor vice president of corporate affairs and chief equal pay advocate, said: “Even in 2016, most employees—especially women—remain in the dark about what is fair pay for their particular role.

“The majority of employees report their companies do not share pay data internally even as most employees believe salary transparency is good for business and employee satisfaction. Employers need to understand that perpetuating salary sharing taboos can ultimately impact retention.”

She added that the research shows by helping employees understand fair pay and providing clear pathways for advancement, employers can increase employee satisfaction, engagement and retention.

There was also a perception among employees may be that the grass is greener elsewhere, as many believe they could earn more at another company. Older employees aged 55+ (43%) were less likely than their younger colleagues (65% of those aged 18-24 and 62% of those aged 25-34) to feel they must switch jobs for meaningful compensation changes.

Almost three quarters of working adults polled by Glassdoor believe salary transparency is good for employee satisfaction and approximately the same (76%) believe it is good for business. Men claimed to have a better awareness of how people were compensated, with 64% saying they had a good understanding compared to 55% of women.

Glassdoor currently holds approximately 12 million workplace reviews, ratings and insights, including millions of salary reports, on more than 500,000 companies around the world.