HR & Recruiting Glossary
This glossary will support any HR professional, business owner, or hiring manager. Here you will be able to find the knowledge of key terms and concepts shaping the hiring world.
What is Pay Transparency?
Pay transparency is the practice of businesses openly sharing pay and compensation information.
What information is included in pay transparency?
- Pay rates for specific roles within the organization
- The structure for commission or bonuses paid in your company
- Health Insurance
- Some companies are even sharing individual employees' salaries.
What are the benefits of pay transparency?
- Hiring and recruiting become easier when job seekers can tell if the offered pay is in line with the rest of the company.
- Improved employee morale if they can see that they are being paid fairly for their individual job.
- Your HR department can stay up to date with what your competitors are paying.
- Pay equity