I was recently interviewed by Clutch, a B2B research and reviews firm based in Washington DC.  Clutch gathered survey data about what job seekers want when searching for a new role.

The data reveals that 32% of job seekers are on the market in search of better pay and/or benefits. I explained that it’s likely some of these job seekers became aware of unequal pay in their workplaces:

Donovan warns that unequal pay can lead to low morale and high turnover.

“Once someone finds out they’re underpaid, they’re no longer your employee,” Donovan said.

When companies fail to provide competitive pay, their employees will seek jobs elsewhere.

Candidates who begin a job search after receiving inadequate pay are especially attuned to the salary companies offer. Companies should be transparent about the salary they plan to offer:

Companies that publish the salary they plan to offer in job listings can stand out from the competition and save time by immediately screening out candidates who would be unsatisfied with a role’s compensation.

If a company doesn’t list salaries publicly, Donovan advises hiring managers to add transparency to the interview process by telling candidates what they plan to offer.

“Just get it out there,” Donovan said. “It’s not a big event. You don’t have to have meetings. Just do it.”

When crafting a job offer, companies should be aware that salary is a top concern for job seekers. Offering equal pay at the market rate can save on long term costs associated with turnover.

Companies that are transparent about the salaries they offer are more likely to build trust with candidates and less likely to suffer from high turnover.

Finally, companies and recruiting firms often stress the overall value of their compensation packages, including both salary and benefits. I explain why this thinking is flawed:

Donovan argues that an employee’s salary directly impacts their ability to participate in other benefits.

“Your end-of-year bonus, signing bonus, life insurance, long-term disability, 401(k) – all that is impacted by your base salary,” Donovan said.

When workers consider their overall compensation, most focus on salary – not benefits.

Employees, not employers, are increasingly responsible for paying into benefits. Due to this trend, employees are less likely to see benefits as a determining factor when searching for a new job.

Overall, companies that are transparent about offering equal, competitive pay are much more likely to hire the talent they need – and convince them to stay.

You can read the full report, including analysis of the data, on Clutch.

On the International Day of the Girl,  Sue O’Connell of The Take interview me regarding equal pay.

https://www.necn.com/on-air/as-seen-on/Looking-at-Gender-and-Pay-on-International-Day-of-the-Girl_NECN-497070841.html

My first podcast with one of my clients, Lauren Hasson.  Lauren is now the founder of DevelopHer, a a career development platform for tech women by tech women.  A few years back, she was an Equal Pay Negotiations client and in two years tripled her income negotiating a pay adjustment and starting salaries.  Also, listen to my thoughts on the push for Mark Wahlberg to donate his pay when his co-star Michelle Williams was short changed.

At its core, the pay raise conversation is the same as telling your boss about any other broken tool. You don’t sweat for one month about saying the Internet is down, the printer is broken, or your chair is uncomfortable. Instead you expect action to fix it and go about the rest of your day waiting for your manager to solve the problem. Borrow that mentality and the pay raise conversation just got less nerve-racking.

It’s 3:00 PM and you have a big meeting the following morning at 8:30 AM. The company printer breaks as you are printing the many materials needed for the meeting. You try all the tricks you know (turn off and on, check and replace the toner or ink, check for a paper jam) but nothing works. Off you go to your manager informing her that, “the printer is broken and we have the Cuddy meeting in the morning!” You don’t even need to finish the rest of your thought. Your manager has the solutions at the ready and replies, “let me take a look and if I can’t fix it, you’ll need to go to a print center.”

You knew the options as well but your boss needed to approve the cost of using a print center. It is not your job to decide to spend that money. It is hers and you know it. The same can be said when you know your pay is not enough aka broken. You know the solution (more money please) but it is not your responsibility or authority to create. It is your manager’s.

Know the problem, state the problem, and then sit back and wait for a solution to be suggested. Granted you may not like the initial solution and will need to state that your paycheck is still broken. It is not until this moment, that I recommend employees throw out their pay and benefits ask.  You want to give your boss the chance to offer you more than you expected.  It can happen and often does.  Sure you still need to know what your ask is and what your goal is. You just don’t need to put all the solutions on the table when you point out the problem.

I hope you don’t think I am referring to you as a tool. No one wants that. The tool is your paycheck. The right pay keeps you with the employer and employers hate turnover. The right pay keeps you motivated to do the job well. The right pay keeps you focused on work and not on your bills. Truly, it is just as important to your employer to find the right salary for you as it is to you.