Glovebox Moments: Pay Transparency
In this "Glovebox Moments” with Miriam Dushane & Tom Schin of “HR in the Car," they discuss pay transparency and its effect on employers.
Hi there, I'm Miriam Dushane of Alaant Workforce Solutions, and this is my partner in crime, Tom Schin, and this is another one of our GloveBox Moments brought to you by HR and the Car podcast. So, Tom pay transparency is huge. New York State is now implementing it as law. Many states and cities across the country have implemented it or are about to implement it. I'm for it! Me too! I'm like a Roger Ebert and Gene Siskel kind of thing here. Thumbs up. Thumbs down. Yeah, we're thumbs up!
I think it's a great thing. You know, I think it's going to create some challenges for some employers, but overall I think it provides candidates some sense of calm in terms of what they're seeing on the market, what they're worth, what they can see from employers, versus this hidden agenda element that all job seekers have faced for as long as I can remember and that's only a couple of years, because I'm still 27. Of course you are.
I think the pro is, I don't want to say it levels the playing field, but it makes it again more transparent. You're not going to have an applicant apply to a $75,000 job if they're currently making $200,000. Now there's some other elements, maybe job duties and title, that would eliminate that in that individual probably, but not necessarily.
But as a business owner or a hiring manager, it makes your job just a little bit easier knowing that the right folks are applying compensation wise for the right roles. You still have to vet them and go through the experience and the interviews and so on and so forth, but it does give you at least a more focused group of candidates to consider. And I would say the opposite side of that, the con, is that if you haven't had that pay equity discussion or thought or know that you need to do that within the organization, you're just kind of hiding behind the curtain. If you will, that's something...you've got some work to do right and we can help you connect to different organizations that can help with those pay audits. But it's something where if you've got one role and you've got six different pay structures for it, you need to fix that Definitely, absolutely so.
Thanks for joining us today for another GloveBox moment. Please go to Alaant.com, sign up for our "HR in the Car" podcast for this and more tidbits on all things recruiting and workforce solutions. Have a great day, bye.