Fair Pay Impact Report
In the wake of the Great Resignation, new research from Payscale reveals that perception of fair pay impacts employees’ intent to leave.
Research Reports
Communicate the what and why of how you pay
Pay communications are the bedrock of employee engagement and retention. Payscale total rewards statements can help you become more transparent and build confidence with your employees that their pay is competitive using streamlined technology.
Introducing the Pay Transparency Spectrum
Pay transparency is commonly misconstrued as an either/or choice between keeping pay secret and publishing salaries. In actuality, pay transparency is a spectrum that informs your approach to pay communications. Most organizations target being on the upper end of the spectrum where managers utilize tools like total rewards statements to communicate to individual employees how their pay is determined, where they fall in their pay range, and how to grow with the organization.
Make pay communications easy with total rewards statements
Total reward statements (TRS) are tools used by managers to show employees the breakdown of their compensation and benefits so employees understand the full value of their total rewards package.
Auto-generated and totally customizable
Total rewards statements from Payscale can be tailored to specific employees or groups of employees. They also come with historical views to help managers track the growth of employees over time.
- Integrate total rewards communications with compensation management
- Choose from a variety of templates to simplify and standardize
- Customize information presented to employees
- Share directly and securely with managers and employees online
- Access historical versions to help managers track employee progression
Why you should use total rewards statements
Build trust
Employees don't know if they are paid fairly and are likely to assume they are being paid below market.
Increase retention
When employees believe they are paid below market, they are more likely to seek out other opportunities.
Stand out
Organizations with clearly communicated pay policies will create differentiated employer brands.
Featured content on pay communications and transparency
Whitepapers
The Definitive Guide to Effective Pay Communications
Transparency and communication surrounding pay are essential when it comes to keeping employees happy. But just how much so? Maybe you’re starting to think about a pay communications plan or need to refresh an existing one. No matter where you are on your journey, dive into this whitepaper to learn about the benefits of having a plan and how to create one.
Webinars
Why Your Employees Are Leaving and What You Can Do About It
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...
Research Reports
Compensation Best Practices Report
Learn how COVID-19 impacted organizations' compensation practices in 2020 and what HR leaders are doing in 2021 around compensation strategy, pay equity, and pay communications.
Services to start improving pay communications
Payscale offers manager training on pay communications and how to use total rewards statements to maximum effect.
Learn about our servicesFresh perspectives on pay communications and total rewards statements
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Payscale Peer surpasses 5 million incumbents, and this is just the start
Peer is the industry’s only on-demand, employer reported data network, enabling organizations to access timely HRIS salary data segmented by industry, and delivered as a dynamic, map-based experience in Payfactors.
Start communicating clearly about pay with total rewards statements
Ask how our compensation software with total rewards statements can help you get pay right. Fill out our form to request a demo.