Companies need to increase salary transparency or workers will quit

"Pay transparency isn't just willy-nilly going out and posting salary ranges on a job posting, because there are more steps that companies need to take internally before they can get to that point," said Lulu Seikaly, a senior corporate attorney focusing on employment law at Payscale, a compensation software and data company.

Companies can use tier levels to decide salary ranges, Seikaly said, where exact salaries are based on experience, education, time with the company, and managerial level, for example, but overall, employees in comparable positions know they're all making the same range as their peers. "In the long term, organizations that are more resistant to pay transparency will begin to see a decrease in the number of applicants and a lowered quality of candidates applying to their roles," Creighton said. And he added that in a tight labor market, companies that want the best talent might need to increase pay transparency, even if it's not mandated by law.

If companies don't prioritize pay transparency and equip managers for these conversations, workers are more likely to apply at companies that do offer these benefits.Pay transparency, as it becomes a cultural shift starting with frontline and entry-level employees, will increase overall morale and trust within an organization.

CNBC Demand a raise? Then you’ll get placed on the internal shit list and possibly get micromanaged out of a job. Most big companies know how to do this and stay between the lines so it doesn’t bite them in the ass. Sad but true.

Such a silly article. Salary is but a single component of total compensation.

No they don't now and later also wont.

Not a great idea to quit during a recession.

Yawn....

I don’t know what my co-worker makes, so I quit! Who wants a loser like that anyway

All they really need to do is share the fruit. 50% of company profit should be profit shared with the employees that produced the profits.

not really at all, more fake news, let them quit

Let them, most are too lazy to work anyway.

The Beginning of the End of low Salaries

Everyone knows what everyone is getting? Then time to compare and not working.

If they can prove fact they love what they do!

Let them quit!

Terrible Idea! Communist nonsense!

or companies can become ruthless like elon and sack workforce for anything and everything

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