Why Pay Transparency Is a Good Thing

Would you feel better about your less-than-market salary if your boss talked to you about how the company structures pay? Maybe. PayScale survey data from 71,000 U.S. employees show that workers who are paid less than the market rate for their jobs were more satisfied if their employer was transparent about their pay, as this Bloomberg Business piece points out. When someone actually sat down with workers and talked to them about compensation, their job satisfaction numbers more than doubled, rising from 40 percent to 82 percent.