MILL VALLEY, CA--(Marketwired - Apr 12, 2016) - Glassdoor 60 Percent of U.S. Employees Say Their Companies Do Not Share Pay Data Internally Nearly 70 Percent of Employees Globally Wish They Had a Better Understanding of What Fair Market Pay Is For ...
MILL VALLEY, CA--(Marketwired - Apr 12, 2016) - Glassdoor
- 60 Percent of U.S. Employees Say Their Companies Do Not Share Pay Data Internally
- Nearly 70 Percent of Employees Globally Wish They Had a Better Understanding of What Fair Market Pay Is For Their Position And Skill Set at Their Company and Local Job Market
- Fewer Women (59 percent) Than Men (51 percent) Globally Report They Have a Good Understanding of How Pay Is Determined at All Levels in Their Company
Glassdoor, the world's most transparent jobs and recruiting marketplace, today unveiled the results of its Global Salary Transparency Survey, which reveals nearly half of employees globally (47%) say their companies still do not share pay data internally. Furthermore, the majority of employees globally (69%) wish they had a better understanding about what is actually fair market compensation for their position and skill set at their company and local job market, and more than half (56%) believe they must switch companies in order to make a meaningful change in their compensation. Released on Equal Pay Day, the survey also reveals fewer women understand how pay is determined at their company than their male counterparts (53 percent vs. 65 percent, respectively). The Glassdoor survey polled 4,300 adults employed full-time/part-time in seven countries (the United States, Canada, United Kingdom, France, Germany, the Netherlands, and Switzerland).
This survey comes just days after Glassdoor announced it will host an historic roundtable discussion on pay equality featuring Hillary Clinton, among other leaders, in New York City on Tuesday, April 12th, Equal Pay Day.
"Even in 2016, most employees -- especially women -- remain in the dark about what fair pay is 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," said Dawn Lyon, Glassdoor vice president of corporate affairs and chief equal pay advocate. "Employers need to understand that perpetuating salary sharing taboos can ultimately impact retention. More than half of employees around the world feel that in order to get a significant raise they need to jump to a new company. Our data shows by helping employees understand fair pay and providing clear pathways for advancement, employers can increase employee satisfaction, engagement and retention."
Employees Believe They Need to Change Jobs to Earn More Money
Perception among employees appears to be that the grass is greener elsewhere, as many believe they could earn more at another company. Close to half (49 percent) of U.S. employees feel they must switch companies in order to obtain any meaningful change in compensation. Among U.S. employees, Millennials ages 25-34 (57 percent) and Generation X'ers ages 35-44 (58 percent) and those ages 45-54 (53 percent) are more likely to believe they need to change companies to make more money compared to those 55+ (32 percent). More employees in France (64 percent) feel they must switch jobs to obtain meaningful compensation changes than those in all other countries surveyed except Germany.
Most Employees Report Their Companies Do Not Share Salaries Internally
Times are changing, but sharing salary information among employees at a company is still not the norm, and the U.S. is behind when compared to other nations. More than one-third (36 percent) of employees globally say they know their company discloses salary information internally. Fewer U.S. employees say their company discloses salary information (31 percent) than employees in the Netherlands (50 percent), U.K. (45 percent), and in Canada (45 percent).
Employed men in the U.S., France and Germany are more likely than their female counterparts to say their employer shares information about pay levels within the company. (In the U.S. 38 percent of men vs. 23 percent of women; France 42 percent of men vs. 23 percent of women; Germany 35 percent of men vs. 20 percent of women.) The differences along gender lines raises questions related to whether men have access to more salary data than women, if they perceive to have more knowledge about salary at their company (vs. actually having pay insights), or if they are asking more direct questions of leadership regarding pay levels.
Globally, the majority of employed adults (70 percent) believe salary transparency is good for employee satisfaction and approximately the same percentage (72 percent) believe it is good for business.
Lack of Understanding Persists Around How Pay is Determined
The survey also uncovers that globally, employees have a lack of understanding about how their pay stacks up in the market: More than two-thirds (69 percent) of employed adults across the globe wish they had a better understanding of what fair pay is for their position and skill set at their company and in their local market. More than one-third (36 percent) indicated they do not have a good understanding of how people are compensated at all levels within their company. More Canadian employees (71 percent) report having a good understanding of pay levels at their company than any other country in the survey (U.K. 61 percent; U.S. 60 percent; the Netherlands 56 percent; France 52 percent; Switzerland 49 percent; and Germany 43 percent).
Clarity around compensation practices is divided along gender lines. Globally, more employed men (59 percent) than employed women (51 percent) believe they have a good understanding of how people are compensated at all levels in their company. In the U.S. the divide is larger with 65 percent of employed men who believe they have a good understanding of compensation levels in their company, compared to 53 percent of employed women.
Glassdoor currently holds approximately 12 million workplace reviews, ratings and insights, including millions of salary reports, on more than 540,000 companies(1) around the world. Glassdoor has also recently conducted several research reports and surveys diving deep into the topic of pay and salaries.
ADDITIONAL GLASSDOOR SALARY RESEARCH & REPORTS:
COMPLETE SURVEY RESULTS: Complete results are available in the Glassdoor Global Salary Transparency Survey Supplement, which details employee perceptions of salary transparency at their company, whether employees have a good understanding of fair pay for their job, and how salary transparency may impact employee satisfaction and retention. This includes breakdowns of survey results by gender, geography and age, as well as survey methodology.
GRAPHICS & VIDEO: To request the report, an interview and/or graphics, please contact pr [at] Glassdoor [dot] com. Plus, to view, download or embed Glassdoor's #ShareYourPay salary transparency video showcasing real employees revealing their pay, please visit: https://www.youtube.com/watch?v=Jxz4_fiNQVU
This survey was conducted online within Canada, Switzerland, Germany, France, Netherlands, United Kingdom and the United States by Harris Poll on behalf of Glassdoor from October 1-5, 2015 among 8,254 adults ages 18 and older, among which 2,049 are in the U.S., 1,057 are in the UK, 1,019 are in The Netherlands, 1,029 are in France, 1,029 are in Germany, 1,018 are in Switzerland, and 1,053 are in Canada. Furthermore, among all countries, 4,300 are employed full-time/part-time, 930 are employees in the U.S., 531 are employees in the UK, 486 are employees in The Netherlands, 605 are employees in France, 630 are employees in Germany, 628 are employees in Switzerland, and 490 are employees in Canada. All responses noted are from adults who are employed part time / full time. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact firstname.lastname@example.org
Glassdoor is the most transparent jobs and recruiting marketplace that is changing how people search for jobs and how companies recruit top talent. Glassdoor combines free and anonymous reviews, ratings and salary content with job listings to help job seekers find the best jobs and address critical questions that come up during the job search, application, interview and negotiation phases of employment. For employers, Glassdoor offers recruiting and employer branding solutions to help attract high-quality candidates at a fraction of the cost of other channels. Glassdoor, which has more than 30 million users and content from more than 190 countries, operates one of the most popular job apps on iOS and Android. The company launched in 2008 and has raised approximately $160 million from Google Capital, Tiger Global, Benchmark, Battery Ventures, Sutter Hill Ventures, DAG Ventures, Dragoneer Investment Group, and others.
Glassdoor is a registered trademark of Glassdoor, Inc.
(1) Glassdoor Data Labs, April 2016
Scott Dobroski & Laura Lowery
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Glassdoor.com via Globenewswire
Source(s) : Glassdoor.com
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