In 2018, your pay brand matters more than it ever did. In the latest edition of the PayScale Hero Awards, we learn which organizations go above and beyond for their employees in terms of pay transparency.
It’s great to feel like you’re paid well, but it’s even better when you know you’re paid well because your manager explained to you why you’re earning the amount that you do. Conversations like this create transparency between manager and employee, which helps build trust and employee engagement while decreasing things like turnover.
To figure out which organizations are the cream of the crop in terms of pay transparency, we examined more than 157,000 employee profiles from more than 47,000 distinct employers. The following organizations were voted on by their employees for being transparent about pay. In this context, we’ve defined pay transparency as the percentage of respondents that gave a high rating when prompted “how pay is determined in my company is a fair and transparent process.”
5. Fed Ex Freight – 64% High Pay Transparency
Fed Ex Freight has been around since 1973. However, Fed Ex is far from old school when it comes to how they choose to discuss pay internally with employees. Fed Ex Freight employees give the organization high marks for having open and transparent conversations about compensation. FedEx Freight headquarters is located in Memphis, Tennessee.
4. Trader Joe’s Company – 69% High Pay Transparency
Trader Joe’s is one of the most popular organizations for both consumers and employees. Trader Joe’s employees give the organization a lot of credit for being transparent about pay practices within the organization (up to 69 percent). This includes everyone from the corporate office down to the cash registers. Trader Joe’s is so transparent that anyone can visit the website and understand what it takes to be promoted within the organization. Trader Joe’s headquarters is located in Monrovia, California.
3. Sanderson Farms – 70% High Pay Transparency
For those unfamiliar, Sanderson Farms is one of the leading producers of poultry in the U.S. They were established in 1947 and come from small and humble beginnings. Today, they are a full-service manufacturer. And with an abundance of employees in both office, shipping, and farming roles, it’s a unique industry to see highlighted for pay transparency. Sanderson Farms is headquartered in Laurel, Mississippi.
2. McKinsey & Company – 70% High Pay Transparency
McKinsey & Company is a management consulting firm. They largely are focused on qualitative and quantitative research for companies in both the private and public space. It was founded in 1926 and has over 127 locations across the country. McKinsey also has nearly thirty thousand employees which makes it even more impressive that they were rated highly at 70 percent for pay transparency. McKinsey’s headquarters are located in New York City, New York.
1. Aldi – 85% High Pay Transparency
The top organization for pay transparency was Aldi, a unique grocery chain that recently expanded into the United States from Germany. It’s also a subsidiary of Trader Joe’s which was also named on this list as being rated high for pay transparency.
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