Credit Union Times’ Post

I’m against salary transparency between employees Don’t come for me! Throughout my career in HR, I've found that discussions about salary among employees can often lead to unnecessary friction and tension in the workplace. Unless mandated by law for companies to disclose salaries, it's best to keep such matters private. But people standing around the water cooler comparing paychecks, it can be very disruptive. Here’s the thing: People come in at different levels of experience, qualifications, and skill sets, which warrants differences in compensation—that’s why salary ranges exist. So, if staff members are walking around like, “I do the same thing and you get paid this and I get paid that.” Now HR has to go through and explain why this person makes a certain amount. It’s really nobody’s business. It’s just never been that important for me to be talking to anybody about how much money I make. I do my own research, and I never compare myself to anybody anyway because I'm confident in who I am and the and the impact that I bring to the organization. And… If we’re being honest, if the person is making more than you, they probably negotiated, and you didn’t. You got on that phone, and as soon as they offered $15 an hour, you jumped at it. So… In an ideal scenario, all salaries would be openly disclosed within the company, eliminating the need for comparison. But, if we can't get to a place where all salaries are open knowledge, let’s stop talking about it. What do you think? #SalaryTransparency #WorkplaceEquality #HRInsights #EqualPay

Salaries shouldn’t be so mysterious. I encourage my employees to discuss their pay. For example; When one employee asked me why they were making less than another person in the same role, the answer was simple: Performance Responsibilities Results This question lead to a great conversation around setting goals, focusing on value add, and meeting KPI’s. No drama. There should be a clear, and easily understood answer to these types of questions. Salary transparency isn’t something to run from. It’s something managers should leverage to help everyone understand how to accelerate. Cheers to managers practicing salary transparency! #careertips #jobsintech #salarytransparency

💼 The Challenge of Salary Appraisals:A True Conversation 💼 In a recent conversation, an important issue was brought to light: Mr. X: "I believe our field team members deserve a salary raise. They've worked tirelessly for years without much appraisal. Their dedication and hard work should be recognized." Mr. A (Boss): "I understand the concern, but raising their salary now could set a precedent. Next year, they might expect another hike. It’s difficult to keep everyone happy by raising salaries frequently." This exchange underscores a significant challenge in many organizations: balancing fair compensation with sustainable business practices. Key Takeaways: Recognition Matters: Employees who work hard and show loyalty should feel valued and appreciated. Sustainable Practices: Businesses must balance financial sustainability with employee satisfaction. Open Dialogue: Transparent conversations about compensation can lead to creative solutions. How do you handle salary appraisals in your organization? What strategies have you found effective in balancing these concerns? Let’s discuss and learn from each other’s experiences. #Leadership #EmployeeEngagement #SalaryAppraisals #WorkplaceBalance #BusinessSustainability #ATMINDUSTRY #management

#VantageOnFirstpost Why is your In-hand Salary Less than your CTC? | Vantage with Palki Sharma The difference between annual salary package and actual in-hand pay has been a pain point for employees around the world. One study found that employees only get 70% of their CTC as in-hand salary. Where does the remainder go? What can be done to bridge this gap? Palki Sharma tells you. --- CTC | Annual Pay | Salary | Cost-to-Company | Employee | Employer | Firstpost | World News | News Live | Vantage | Palki Sharma | News #ctc #salary #employee #employer #firstpost #vantageonfirstpost #palkisharma #worldnews

Many employers allow untimely and enjustified salary adjustments, whether in response to a resignation or a direct request from an employee. While offering a counteroffer or granting an untimely salary increase to a favored employee might seem like a quick fix, these actions can have long-term consequences on team morale and organizational integrity. Instead of reacting to individual demands, we should aim to build a transparent, fair, and performance-driven compensation structure. This not only promotes trust but also ensures that rewards are aligned with contributions and the overall growth of the organization. A few guiding principles I believe in: Consistency in pay policies - Ensuring that salary decisions are based on objective performance and market standards, not emotions. Transparency in communication: Employees salary matter should be managed within the framework of well-communicated policies, and salary increase should take place preferably once in a year based on employees performance. #HR #Leadership #EmployeeRetention #Compensation #WorkCulture

**💼 Today's Topic: Employee Salary Increases 💰** When should an employer take the initiative to raise an employee's salary? Here are key points to consider: **🌟 Performance:** Recognize employees who consistently exceed expectations and take on more responsibilities. **📊 Market Standards:** Regularly review industry salary benchmarks to ensure fair compensation. **📈 Cost of Living:** Adjust salaries periodically to reflect economic changes and rising living costs. **🗣️ Employee Feedback:** Take employee concerns seriously and discuss career progression and responsibilities. **💡 When an Employee Thinks Their Salary is Low:** Understand the reasons behind this perception and address them through transparent discussions and a clear path for salary progression. **What Are Your Thoughts?** Share your experiences and opinions. How do you approach salary increases in your organization? #HR #EmployeeSatisfaction #CareerGrowth #Compensation

SALARY NEGOTIATING   HR: What’s your salary expectation?   Interviewee: What’s your budget?   HR: We don’t have a budget.   Interviewee: What’s the market rate?   HR: A little down at the moment.   Interviewee: I believe I’d bring a lot to the table.   HR: Possibly, but it’s a pretty standard role.   Interviewee: I want to get back to you on this.   HR: Well, we would much rather have an initial number. What’s your current salary?   Interviewee: Can’t say. I signed an NDA.   HR: 😒🤨   Interviewee: 👁️👄👁️   Isn't it time we stop playing salary-guessing games?   Cre: @plutopiaworld   #HRoutsourcing #Payroll #salarynegotiation #Payrolloutsourcing

HR professionals, we all know that managing salary increases can be a complex and time-consuming task. That’s why we're excited to share a tool that can make your job easier and more efficient. Our Salary Increase Calculator is designed to handle both bulk and individual salary increase calculations, simplifying the entire process. 🔍 Key Features: ✅ Bulk Salary Increase Calculations: Manage salary adjustments for large groups, saving you valuable time and reducing errors. ✅ Individual Salary Calculations: For salary increases to individual employees at ad hoc times of the year ✅ User-Friendly Interface: Easy to use, even for those with minimal tech experience. ✅ Accurate and Reliable: Ensure fairness and consistency across the board with precise calculations. Whether you’re handling an annual salary review, a cost-of-living adjustment, or performance-based increases, this calculator can help streamline your process, improve accuracy, and save you hours of manual work. 👩💻👨💻 Ready to see how it works? Click the link below to access the calculator and start optimising your salary review process today! #HRTech #SalaryIncrease #HRTools #HumanResources #CompensationManagement #Payroll #HRSoftware #EmployeeEngagement #Efficiency #Leadership

Salary Delays: Why shouldn't they happen? With inflation impacting daily life, timely salary payments are not perks, they are Critical. While unforeseen challenges may arise, it's essential to keep the following points in mind: - Salary delays must be the exception, not the norm. -"Transparent communication" from management is key during any delays.    -Employees have the "right to voice concerns" about irregular payments.  -Consistent, on-time pay is essential for "building trust and maintaining motivation".  -Companies that regularly delay salaries can lose their "valuable talent" and might damage their reputation as well.  Let’s make financial reliability a core value in our workplaces. What are your thoughts or experiences with this issue? #workplacewellness #employeewellbeing #salarydelay

What is wrong with private companies nowadays? It’s like they don’t understand the difference between an increment and an appraisal! Salary hikes, or increments, shouldn’t be tied to employee performance. That’s the role of appraisals and bonuses. The real purpose of a salary increment is to adjust for the cost of living, inflation, and to keep salaries competitive within the industry. Plus, regular salary hikes are essential for gradually improving our living standards. Who wants to stay stuck at the same living standard year after year? A minimum annual salary increment of 15% is a must. Another 15% could be as an appraisal. HR departments need to get their act together. Not giving regular increments kills motivation and pushes employees to look for new jobs where they can get at least a 30% hike. Isn’t it better to pay your current employees fairly and keep them motivated instead of constantly going through the expensive and tedious hiring process? Seriously, it’s time for companies to understand and respect their workforce. Give them the increments they deserve! #incrementvsappraisal #employees #HR #SalaryIncrement #privatecompanies #employeeisuue