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.
Get a DemoThe Pay Transparency Spectrum
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What am I paid?This level of communication is the most basic, simply sharing what an employee makes with that individual employee.
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How do you determine my pay?At this level of communication you may begin to share how you utilize market data to determine employee pay.
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Where can my pay go from here?At this level you have developed a salary structure process. You can now share salary ranges with your employees and where they fall within their range.
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Why do you determine pay the way you do?At this level you and your managers are equipped to have productive pay conversations, explain why your employees make what they do, and what your pay philosophy is.
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Whoa, I know everything I ever wanted to about pay!At this level, you are prepared to communicate pay not only internally but externally as well via salary ranges in job postings or pay reporting requirements.
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.
Engage in transparent, productive pay communications
Now it’s easier to let employees know just how much they’re valued.
Schedule a personalized demoAuto-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
Pay Transparency Legislation Series, Ep. 4 - Webinar On-Demand
Join Payscale’s VP of People, Lexi Clarke; Chief Product Evangelist, Ruth Thomas; and Senior Corporate Attorney- Employment, Lulu Seikaly as they answer your most pressing questions surrounding recent and upcoming pay transparency legislation
Research Reports
2022 Compensation Best Practices Report
Payscale’s annual flagship report distills data and insights from the largest known survey on compensation management best practices to help employers refocus compensation's role in the Great Reevaluation.
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
The legislative lowdown: January 2023
To kick off 2023, we’ve decided to start bringing you monthly posts outlining pay legislation that has been recently proposed or passed along with a description of how each might affect your organization.
5 areas in your compensation program for your rewards team to focus on
Employers responded to and reviewed legacy compensation programs that no longer aligned with the modern workforce.
5 Key Steps Towards Sustainable Pay Equity
Pay equity matters more than ever and must be managed continuously. Gone are the days where pay equity was an annual project to measure pay gaps between employees.
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.
Supercharge your pay communications
Discover how Payscale can help you achieve all your compensation goals.
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