Once again, Gen Z is running from behind when it comes to the issues affecting the workplace. Throughout the pandemic, it has been this cohort that has confidently shown the rest of the working population how they would like things to be done. Show studies that this is the generation most value-driven, wanting to know that the company they work for is strongly committed to diversity goals and has an innate need for work-life balance.
Gen Z is also the TikTok generation. As much else in their lives takes place on social platforms, so are fragments of their working days. On #WorkTok, all aspects of career-related issues are bundled into snackable, shareable video packages. Employment lawyers share information about workers’ rights; technical workers take you through their day; this is where the silent quitting phenomenon originated – and now a new trend has emerged: salary transparency.
Creators on the platform are talking about money. They encourage pay transparency among colleagues by sharing their salaries to identify pay gaps and prevent discrimination.
Join AS in Valencia!
The heart of technology comes to the heart of the Mediterranean
It’s an eye opener. But maybe it’s not so surprising: A recent survey found that only 15% of Gen X talk about salaries, compared to 37% of Gen Z. Traditionally, we’ve avoided talking about money for several reasons: people may feel judged or looked down upon, or they’re afraid that they get into trouble if a colleague is annoyed that they earn less – and that has worked well for employers, of course.
Now things are changing. The EU is working on the Wage Transparency Directive. One of the objectives is for EU companies with at least 50 employees to be fully transparent about pay, and the European Parliament wants them to address any potential gender pay gap. Because not talking about money is often disadvantageous for women (working women in the EU earn on average 13% less than men when doing the same job), companies will be obliged to address an existing gender pay gap in their organization. to bring light.
In the United Kingdom, measures for transparency on executive remuneration went into effect in 2019, which means large companies must disclose their executives’ pay and show the gap between that and their average employee. The move has seen a number of successes: property development firm Persimmon let its CEO Jeff Fairburn go when its £75 million bonus became news, and when the BBC published its salary list, the public was unimpressed by the differences.
empower Wage transparency at the legislative level is important to formalize (and normalize) it, but what about the trickle-down effect? Most companies still don’t provide payroll information about job openings and other recruiting materials.
There’s still a long way to go, but there are already some bright spots: Buffer, the social media management tool, has a full list of everyone’s salaries available on her website. The company has been doing this since 2013 in an effort to ensure fairness around pay, including gender equality.
While Amazon publishes salary information for some of its positions — its warehouse and logistics capabilities, for example — it is less likely to make information available for its technical positions around jobs such as software engineering or AWS jobs.
Reykjavík-based Aranja is another company that uses a transparent payroll system and has salary scales based on market rates – which in Iceland are close to the upper end of what the tech market pays.
Software company Glitch has been offering salary transparency since 2018, when the company started sharing the salary range of each position with its employees. Glitch CEO Anil Dash wrote on Medium“We talk a lot about how everyone in the company should spend the company’s money as if it were their own money. To do that right, we need to give everyone enough information to know what our people are costing.”
Of course, there is another easy way to find out what people earn. If you work in technology, comparisons are not that hard to come by as companies tend to compete with each other for similar functions. A company and salary comparison website like Glassdoor is your friend here. Join the company you want to research and view locations for jobs, job titles and salaries. Since the information is user-generated, it is considered to be fairly accurate and also updated regularly.
There are plenty of jobs to browse through and check salary information on the House of Talent Job Board – what are you waiting for?