Here’s how rising pay transparency is causing an employer compensation information ‘arms race’
Publishing timestamp: 2023-11-06 11:55:36
Summary
The article discusses how pay transparency is becoming more common among employers, with many including salary information in job listings. This has led to an "arms race" among employers to offer better starting pay and benefits. While job seekers may appreciate the transparency, the negotiation process during hiring has become more challenging. Pay transparency has not significantly affected average wage ranges, but it has changed how employees and employers behave during the job-seeking and hiring processes. Employers are using pay transparency to attract candidates who are willing to accept the listed pay and discourage others from applying. The article also mentions that pay transparency may shift the focus away from salaries and towards non-cash benefits, equity compensation, and flexibility.
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