Salary Review: It Pays To Talk
42% of employees surveyed by law firm Lupton Fawcett Denison Till admitted they were uneasy about discussing their salary with their employer, while 35% would prefer to disclose their earnings to a colleague than talk with a manager.
This leads to potential problems further down the line according to senior associate Nathan Combes. “A common situation is that employees start to discuss their wage with colleagues, which can lead to individuals who are paid less feeling undervalued and leaving, resulting in a high staff turnover.” he said.
The solution? Communication is the key according to Mr Combes. He advised that organisations offer a salary review once a year in an environment where the employees feel comfortable to raise concerns.
“By giving employees a set date for a salary review, employers demonstrate that they are open to discussing the topic, removing the need for staff to turn to colleagues for advice on the matter.”
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
