If you’re like most working Americans today, you grew up in a culture that taught you that talking about money was one of the greatest taboos…
Pay transparency is supposed to help companies close the gender pay gap. By being open about their compensation philosophy, sometimes to the point of posting employee salaries for everyone to see, decision-makers hope to catch pay inequities before they become entrenched. Buffer, the social media management tool provider, is one of the companies that's most publicly committed to transparency, publishing not only their salary formula, but a public spreadsheet of every salary at the company, from the CEO on down – which is why the company was taken aback to discover that female employees make less than males.
There is a big movement for tech companies to publicly share data about the gender and racial diversity of their employees. However, while some companies are using this moment of crisis to show commitment to developing a more diverse, more productive workforce, others are less than eager to disclose numbers. In fact, the Securities and Exchange Commission (SEC) just rejected a request from tech giant Amazon for exemption from a request from one of their investors to disclose gender pay data.