Goldbeck Recruiting’s Post

One of the interesting updates speaks about how we deal with pay transparency becoming the norm, and how balancing internal and external compensation has become more critical than ever. This means clear progression and fair practices are key to attracting and retaining top talent. https://lnkd.in/gqE4tGWm

Do we need to do more on pay transparency in the UK? This was a topic that came up in several discussions at the brilliant APCIA HR conference in the US last week, and it was fascinating to hear the feedback from many of the organisations attending who have put in place new ways of working, given legal requirements in certain states to be more visible with the "honest" range on the role. And this got me thinking about what this means for the UK. Is it just a matter of time before we see these types of regulations become mandatory for employers? What is holding most employers back from being completely transparent at the moment? In answer to that last question, is it simply that employers know that they have a range of internal talent that are on salaries lower than they are willing to now pay, and are concerned about the impact this could have? I think so! Equally, from an employers perspective, the challenge is that external top talent may well be more than you wish to spend, but that is where the market has moved to(just look at some of the crazy salary increases that we saw in the market during 2021 and 2022!) and you simply have to adjust to hire the right person. It is very tough to see how this this is resolved easily in the coming years, but it is coming and companies are going to have to be ready for it. Candidates are ready for it now! If you are a candidate, would you like to see a true range on the role before applying? Hopefully this would dissuade the request for current salary! If you are a hiring manager or in HR/TA, are you concerned about this change or would be happy to be transparent?

The last section of this article is critically important in my opinion. As an organization, if you are doing the bare minimum in your pay transparency strategy, you are sending a message to your employees and potential workforce that you are only interested in complying to the new regulations and you are not interested in true transparency. The bare minimum looks like this: 1️⃣ Posting a compensation so wide (ie 85 -150k), that it becomes more confusing and irrelevant during the application and interview process. 2️⃣ Only providing transparency in the specific jurisdictions that require it. 3️⃣ Lack of communication during the hiring process on how the compensation range was developed and what it takes to land in certain spots within that range. https://lnkd.in/edWqzMNY

A recent study by ResumeLab revealed that a whopping 80%* of job seekers would reconsider applying to job postings lacking salary information. While many business leaders may not have fully embraced this paradigm shift, most compensation professionals acknowledge the inevitability of salary range transparency. Read the article to learn how this transformation will redefine the role of compensation professionals within their organizations. https://lnkd.in/gp8ci3Ff #WorldatWork #WorldatWorkIndia #Paytransparency #HR #Totalrewards #compensation #Benefits #Rewards #hiring #jobposting #Recruitment

Pay transparency continues to gain popularity. In fact, According to the 2024 Compensation Best Practices Report from Payscale ...👇 ▪ 60% of companies include salary ranges in job ads, which is a 15% increase from the previous year. This trend is largely due to pay transparency laws in various states. However ... ▪ Not all employers are transparent out of legal compliance, with 42% voluntarily sharing salary information. Explore the pros and cons of pay transparency in the workplace, as this practice presents both significant opportunities and notable challenges ... https://lnkd.in/gfhq_sjc #hiring #hrlife #talentacquisition #compensation #paytransparency

Manual pay reviews causing headaches? 😧 Annual pay reviews are crucial in ensuring people receive fair and competitive remuneration. 👍 However, manual pay reviews can often lead to several pain points for organisations. Our comprehensive guide explores these challenges and provides practical solutions to overcome them 💡. Check out the link below for more information. https://lnkd.in/eH5GVb4V #payreview #hrtransformation #hr #hrsoftware #costofliving

💡 Employee classification is a system of categorising employees based on their responsibilities, job duties, legal status, compensation, and entitlements. Proper employee classification is crucial to avoid severe consequences like penalties, fines, or legal action from employees seeking back pay. 🔎 Employee classification is essential for HR compliance for many key reasons. Some of them include: ✅ Ensuring legal compliance with various regulation laws ✅ Business efficiency contribution ✅ Ensuring that employees receive their protections and benefits ✅ Meeting tax obligations 🌟 Read our newest blog on How Businesses Can Classify Employees For HR Compliance here: https://hubs.li/Q02FqqGR0 #AYP #AYPGroup #HRcompliance #employeeclassification #typesofemployment #legalcompliance

Job candidates want to know what they're worth from the start. Pay transparency helps ensure fair compensation practices across an organization. So, how can leaders make optimal compensation decisions for their employees while still controlling costs and maintaining compliance? This insightful blog from the HR experts at #Insperity provides concrete strategies: https://lnkd.in/gi2QrqzD. #PayTransparency #Compensation #Salary #HRThatMakesADifference https://lnkd.in/gys77CRM

Job candidates want to know what they're worth from the start. Pay transparency helps ensure fair compensation practices across an organization. So, how can leaders make optimal compensation decisions for their employees while still controlling costs and maintaining compliance? This insightful blog from the HR experts at #Insperity provides concrete strategies: https://lnkd.in/g88dCiSi. #PayTransparency #Compensation #Salary #HRThatMakesADifference https://lnkd.in/gGmKX9J6

Many organisations will be conducting pay reviews at the moment. Register below to join a webinar where I will be discussing Best Practices.