Global regulatory requirements prompting North American companies to comply with pay transparency, WTW survey finds
WTW's 2024 Pay Transparency Survey reveals that most North American companies are increasing pay transparency due to global regulatory requirements. Key findings include:
- 74% communicate job levels, 58% share variable pay opportunities, and 65% explain base pay determination
- 75% share hiring rates/ranges with external candidates, 69% with internal candidates
- 86% of U.S. and 58% of Canadian companies communicate pay info across entire regions
- 73% cite regulatory requirements as the main driver for increased transparency
Employers anticipate more questions about compensation from employees (72%) and managers (71%), as well as increased pay negotiations (57%). To assess impact, 56% of companies are establishing metrics, focusing on employee retention (40%) and questions received (37%).
Il sondaggio sulla Trasparenza Salariale 2024 di WTW rivela che la maggior parte delle aziende nordamericane sta aumentando la trasparenza salariale a causa dei requisiti normativi globali. I risultati principali includono:
- Il 74% comunica i livelli lavorativi, il 58% condivide le opportunità di retribuzione variabile e il 65% spiega come viene determinato il salario base
- Il 75% condivide i tassi/aiuti all'assunzione con candidati esterni, il 69% con candidati interni
- L'86% delle aziende statunitensi e il 58% delle aziende canadesi comunicano informazioni retributive in tutte le regioni
- Il 73% cita i requisiti normativi come il principale motore per l'aumento della trasparenza
I datori di lavoro prevedono più domande sulle retribuzioni da parte dei dipendenti (72%) e dei manager (71%), oltre a un aumento delle trattative salariali (57%). Per valutare l'impatto, il 56% delle aziende sta stabilendo metriche, concentrandosi sulla retention dei dipendenti (40%) e sulle domande ricevute (37%).
La Encuesta sobre Transparencia Salarial 2024 de WTW revela que la mayoría de las empresas norteamericanas están incrementando la transparencia salarial debido a requisitos regulatorios globales. Los hallazgos clave incluyen:
- El 74% comunica niveles de puestos, el 58% comparte oportunidades de pago variable y el 65% explica la determinación del salario base
- El 75% comparte tasas/rangos de contratación con candidatos externos, el 69% con candidatos internos
- El 86% de las empresas estadounidenses y el 58% de las canadienses comunican información salarial en todas las regiones
- El 73% cita requisitos regulatorios como el principal motor para incrementar la transparencia
Los empleadores anticipan más preguntas sobre compensaciones de los empleados (72%) y de los gerentes (71%), así como un aumento en las negociaciones salariales (57%). Para evaluar el impacto, el 56% de las empresas está estableciendo métricas, enfocándose en la retención de empleados (40%) y en las preguntas recibidas (37%).
WTW의 2024 급여 투명성 조사에서는 대부분의 북미 기업들이 글로벌 규제 요건으로 인해 급여 투명성을 높이고 있다고 밝혔습니다. 주요 결과는 다음과 같습니다:
- 74%가 직급을 전달하고, 58%가 가변 급여 기회를 공유하며, 65%가 기본 급여 결정 방법을 설명합니다.
- 75%가 외부 후보자에게 채용 비율/범위를 공유하고, 69%가 내부 후보자와 공유합니다.
- 미국 기업의 86%와 캐나다 기업의 58%가 전체 지역에 걸쳐 급여 정보를 전달합니다.
- 73%가 규제 요건을 투명성 증가의 주요 요인으로 인용합니다.
고용주들은 직원들(72%)과 관리자들(71%)로부터 보상에 대한 질문이 더 많아질 것으로 예상하며, 급여 협상이 증가할 것(57%)이라고 합니다. 영향을 평가하기 위해, 56%의 기업이 직원 유지(40%)와 수신된 질문(37%)에 중점을 두고 지표를 설정하고 있습니다.
Le sondage sur la transparence salariale 2024 de WTW révèle que la plupart des entreprises nord-américaines augmentent la transparence salariale en raison des exigences réglementaires mondiales. Les résultats clés comprennent :
- 74 % communiquent les niveaux de poste, 58 % partagent des opportunités de rémunération variable et 65 % expliquent comment le salaire de base est déterminé
- 75 % partagent les taux / fourchettes d'embauche avec des candidats externes, 69 % avec des candidats internes
- 86 % des entreprises américaines et 58 % des entreprises canadiennes communiquent des informations salariales dans toutes les régions
- 73 % citent les exigences réglementaires comme le principal facteur de l'augmentation de la transparence
Les employeurs s'attendent à recevoir davantage de questions sur la rémunération de la part des employés (72 %) et des managers (71 %), ainsi qu'à une augmentation des négociations salariales (57 %). Pour évaluer l'impact, 56 % des entreprises mettent en place des indicateurs, en se concentrant sur la rétention des employés (40 %) et sur les questions reçues (37 %).
Die Gehaltstransparenzumfrage 2024 von WTW zeigt, dass die meisten nordamerikanischen Unternehmen die Gehaltstransparenz erhöhen aufgrund globaler regulatorischer Anforderungen. Die wichtigsten Ergebnisse sind:
- 74% kommunizieren die Jobebenen, 58% teilen variable Vergütungsoptionen, und 65% erklären, wie das Grundgehalt bestimmt wird
- 75% teilen Einstellungsraten/-spannen mit externen Kandidaten, 69% mit internen Kandidaten
- 86% der US-Unternehmen und 58% der kanadischen Unternehmen kommunizieren Gehaltsinformationen über ganze Regionen hinweg
- 73% führen regulatorische Anforderungen als Haupttreiber für die erhöhte Transparenz an
Arbeitgeber erwarten mehr Fragen zur Vergütung von Mitarbeitern (72%) und Managern (71%), sowie mehr Gehaltsverhandlungen (57%). Um die Auswirkungen zu bewerten, richtet sich 56% der Unternehmen darauf, Kennzahlen zu etablieren, wobei der Fokus auf der Mitarbeiterbindung (40%) und den erhaltenen Fragen (37%) liegt.
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Increase in transparency sparks anticipation of more employee questions and salary negotiations
NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The majority of North American organizations are communicating pay program information to their employees, according to a survey by leading global advisory, broking and solutions company WTW (NASDAQ: WTW). The 2024 Pay Transparency Survey found several factors, including increasing regulatory requirements around the globe such as the EU Pay Transparency Directive, are encouraging North American organizations to establish pay transparency strategies. These strategies include assessing their job and pay structures, evaluating their pay policies and practices, conducting pay gap and pay equity analytics, and preparing for increased pay communication and education among all stakeholders.
The survey found communicating job level (
When it comes to sharing pay ranges with job candidates, most organizations are already communicating the hiring rate/range for jobs to both their external candidates (
According to the survey, regulatory requirements are the most common driver (
“Employers are seeing an increase in regulatory requirements around the globe, which has forced many to act fast and comply with a consistent minimum standard, regardless of location,” said Mariann Madden, North America Pay Equity co-leader, WTW. “As a result, we’re seeing employers across North America increase the visibility of pay information as well as provide clarity to employees about their pay. Now is a good time for organizations to review their job and reward structures. A clear, consistent and well-documented pay transparency strategy will ensure accurate pay information is shared with both job candidates and employees.”
While progress in pay transparency is being made, employers still fear repercussions. Most employers expect more questions about compensation from employees (
The survey reveals, however, that employees’ questions most often focus on how an individual’s pay aligns with the organization’s pay programs, which includes pay positioning (
Regardless of the legislative landscape, over half of North American employers (
“There has been a step-change in pay transparency as more organizations choose to be open about their pay structures and practices,” said Lindsay Wiggins, North America Pay Equity co-leader, WTW. “We see that employers are still wary of their employees’ reactions. The increase in transparency raises questions and comparisons between job postings for prospective employees and how they stack up with internal salaries and has the potential to surface many of the inequities that have resulted from a recent emphasis on hiring people higher in the range and salary compression for existing employees. By strengthening pay policies and HR/manager guidance to support pay decisions upon hire, for a promotion and during the annual review cycles, employers can reduce the risk of pay inequity.”
About the survey
WTW’s 2024 Pay Transparency Survey was conducted in June 2024. In North America, 527 respondents completed the survey. Globally, 1,674 respondents completed the survey.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
Media contacts:
Ileana Feoli
ileana.feoli@wtwco.com
Stacy Bronstein:
stacy.bronstein@wtwco.com
FAQ
What percentage of North American companies are communicating job level information according to WTW's 2024 Pay Transparency Survey?
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