Putting Pay Transparency into Action

Implementing a Transparent Compensation Strategy 

Openly sharing employee compensation information isn’t the norm for most companies—yet.  

But evolving legislation and recent cultural shifts mean that pay transparency is rapidly gaining traction. For many companies, some degree of organizational transparency around pay will soon be mandatory. 

There’s a lot for organizations to consider when starting down the path of pay transparency, from understanding compliance to assessing and adapting your existing pay structure.  

And you'll need to be sure the people leading your company through pay transparency are skilled at change management leadership. 

This eBook provides a comprehensive guide for leaders on how to effectively implement the final steps of salary transparency in their organizations. 

Pay Transparency: Why Now? 

• New laws: A growing number of countries and regions are adopting pay transparency legislation. 
• Societal shifts: Growing demand for equity and fairness from talent and consumers is driving more organizations to proactively embrace a transparent compensation strategy. 

Going Beyond Compliance 

To give your company the edge with talent and the public, do more than the bare minimum.  

By proactively embracing salary transparency, organizations can position themselves as desirable employers with a real commitment to equity and fairness.  

The bonus? A stronger brand image and sharpened competitive edge in the marketplace. 

The key building blocks for pay transparency implementation are: 

1. Leader and manager alignment. Ensure leaders and managers: 
   • Are on board with new policies 
   • Are prepared to execute them 
   • Have embraced transparent communication 
2. HR and manager capability building 
   Equip HR business partners and managers with the tools, training, and support they need to manage the shift with confidence. 
3. Communications, content, and process 
   Develop clear, consistent messaging that’s customized for different stakeholders, and communicate frequently to stay ahead of the rumor mill.  

Implementing pay transparency is crucial if you want to stay ahead of the competition. You'll first need to understand compliance in the areas you’re operating, run analyses, and align on an overarching compensation strategy.