Pay transparency should focus on how compensation is determined in the organization, not merely fostering comparison among employees, which can lead to negativity.
Having a clear, strong compensation philosophy that is well-communicated empowers managers to handle pay discussions effectively, steering away from individual comparisons.
To implement pay transparency successfully, organizations must first measure their pay practices and ensure clarity in compensation management; this creates an equitable system.
Pay transparency requires thoughtful consideration of context, ensuring that employees understand the 'why' and 'how' behind compensation policies to prevent feelings of undervaluation.
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