September 2023
Featured in this insight: Financial services
25% of female employees have had no salary conversations with managers: A recent survey conducted by XpertHR and Executive Networks found that a quarter (25%) of female employees have not had any discussions with their manager about pay, compared to only 16% of male workers.
The research was carried out by XpertHR and Executive Networks and polled 1,011 HR and business leaders and employees across the United States and the United Kingdom. The purpose of the research was to highlight the problems that still exist in relation to women and pay. Findings also revealed that men were more likely to agree that they ‘have a good understanding of how pay is determined at their organisations’, compared to females (76% versus 61% respectively).
Further findings from the survey highlighted that 50% of managers felt that 'communicating factors that impact pay' with their employees was the most challenging aspect when speaking about pay transparency. Nonetheless, 63% of senior leaders said their organisation had already trained managers on how to deal with pay transparency conversations. XpertHR stated that these training practices were “ineffective”, as the remaining percentage said no training was offered to them.
Additionally, there was a disparity found between managers and their staff in terms of how they perceive pay transparency. While 7 in 10 (70%) managers said they believe what they are doing is effective, under 4 in 10 (39%) workers said they believe this to be true.
Gary Cookson, director at Epic H, said: “Pay transparency is one thing, but if that isn’t matched by the way people are treated or a sense of belonging and inclusion, then it may be hollow. Looking at how trust is built and what things leaders can do around that with individuals is helpful here".
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