Global Pay Transparency
At Mercer, we help our clients navigate the path to pay transparency
Pay transparency is transformative. It is a fundamental principle that—if done well—can drive fairness, equality, and trust within organizations. In today's rapidly evolving workplace, pay transparency has emerged as a critical factor in fostering a culture of openness and accountability, and is an expectation of candidates and colleagues alike.
What is pay transparency and why is it important?
Pay transparency is the practice of openly sharing information about compensation structures, salary ranges, and the factors that influence pay decisions. By shedding light on these previously opaque processes, organizations can empower their employees with knowledge and understanding, creating a more equitable and engaged workforce.
At Mercer, we understand the significance of pay transparency and its potential to drive positive change. That's why we conducted a comprehensive pay transparency survey, with over 1,000 participants, to gain valuable insights into the opportunities, challenges, and governance surrounding this important topic. A key insight is the gap between the need (two-thirds of organizations agree pay transparency is an expectation of candidates and employees) and the readiness (one-thirds of organizations agree they are prepared for the impact of global requirements). Navigating this gap is the key opportunity for organizations to differentiate.
The full results of this survey (due out late summer 2024) provide us with a deep understanding of the landscape and enable us to offer data-driven solutions tailored to your organization's unique needs.