How you communicate pay to employees has a direct impact on their engagement and ultimately their likelihood to stay. While some turnover is good and natural, high rates of turnover can be costly and have a negative impact on morale and a company’s culture. This means taking steps to communicate pay effectively is absolutely critical.
Recent research conducted by Payscale confirms these sentiments showing that an employee’s perception of pay, no matter how close to reality it is, is a huge factor in their intent to leave. Join Payscale on Friday, July 23rd at 11 am PST, as we dig into recent pay perception, transparency, and engagement data and explore:
- The role of pay perception in employee turnover
- Different strategies for increasing pay transparency
- Tips for training managers and effective comp conversations