Co-workers are increasingly discussing salaries with fellow employees, with Gen Z and Millennials leading the way, a new study says.
According to data collected by recruitment firm Robert Half more than half of professionals, 52 per cent, have discussed salaries with colleagues. Among Gen Z, 86 per cent said they had discussed pay with other employees, compared to 59 per cent of Millennials.
Older workers are less likely to openly discuss pay. According to data, only four in 10 Gen X workers, and 41 per cent of Baby Boomers, have talked about their pay with colleagues.
The study also found that 35 per cent of people swap salary information with each other, while 17 per cent said they don’t share their salaries even if a colleague divulges theirs.
Moreover, when asked about their biggest frustrations during the hiring process 48 per cent of professionals cited a lack of transparency over pay and benefits as their biggest annoyance.
When negotiating salaries 44 per cent of people considered an industry source as the most reliable for advice, while 37 per cent said they trusted coworkers for salary negotiation tactics. On the other hand, 45 per cent of employers surveyed said meeting candidates’ salary expectations caused them the most difficulties.
Half of the 596 professionals surveyed online said they now expect companies to include salary ranges in job postings. If passed, legislation tabled by the provincial government in November would make it mandatory to disclose salaries in job postings in Ontario.
Data also shows that raising starting salaries increases employers chances of attracting new candidates by 40 per cent.
