4 in 5 job seekers are less likely to apply for a job without knowing the salary

Studies indicate that four in five (78%) job seekers are less likely to apply for a job vacancy that lacks salary information.
Against the backdrop of the current economic crisis and labour shortages, could business owners who follow a culture of salary secrecy limit their ability to attract the best talent, especially from diverse backgrounds?
Or are there advantages to keeping pay information confidential?
Let’s explore this dilemma…
Case 1: Transparency enables greater diversity…
Being transparent with pay can impact recruitment and retention positively, helping to reduce inequality. It may narrow gender pay gaps, as imbalances are more likely to be exposed and addressed when salary information is freely available.
It can also help to boost morale and engagement and build trust. Pay transparency can also be a powerful advantage in today’s competitive landscape, appealing to those who tend to be salary conscious.
Businesses that disclose salary ranges show potential hires that they value fairness and transparency. It also sets realistic expectations from the get-go and eliminates the use of salary benchmarking, or sources like Glassdoor, to hunt down the salary.
The EU has recently adopted the Pay Transparency Directive, which creates new rights for employees including ‘pay transparency prior to employment’. Although not directly applicable to UK employers, there are indicators that it may impact UK employers and lead to a shift towards increased transparency.
Case 2: The Strategic Advantages…
Opting to withhold salary details from job adverts could be viewed as a strategic move, offering potential leverage during salary negotiations with candidates. While providing a salary range offers some benefits, such as flexibility without committing to a specific figure, the absence of one allows hiring across a range of experiences and situations.
This approach would be useful if you aim to attract candidates spanning entry-level professionals seeking part-time work to more experienced individuals considering retirement. Without a fixed salary range, the focus remains on finding the ideal candidate irrespective of their level or preferred working pattern, free from salary constraints.
Salary transparency continues to be a hot topic, with many benefits and implications. If you’d like to explore this further, don't hesitate to reach out for a chat.
#SalaryTransparency #Pay #Diversity #SalarySecrecy


