Report: 2018 compensation and culture report
This study set out to uncover gaps, issues and employees’ understanding of compensation in America. Beqom found that US workers don’t believe all employees are paid equally, regardless of age, race and gender. However, it revealed that today’s workforce demands pay transparency because they believe it will motivate employees to work harder, create a better company and ultimately solve pay gap disparities among age, gender and race.
- Once a taboo subject, salary and pay is now more openly discussed among co-workers, with nearly half of US employees admitting they know how much their colleagues make (45 per cent) and they’ve shared or discussed their salary with colleagues (46 per cent).
- Younger workers are more likely to share salary information than older workers. More than half of millennials would share or discuss their salary with their colleagues compared to one in four Baby Boomers.
- Nearly half of US workers believe men get paid more than women at their company, while nearly one in three workers do not believe employees at their company are fairly compensated regardless of age or race.
- More than three in four US workers believe that most CEOs and top executives make too much money compared to their employees.
- Fewer than one in five US workers are comfortable discussing salary and compensation with their manager or supervisor. In addition, 54 per cent don’t plan to ask for a raise or additional benefits before the end of the year, while one in three are planning to get a new job within the year because they’re unhappy with their salary and compensation.