The Progression of Compensation and Pay Transparency in Companies

In 2016, a law was introduced that required companies to provide pay ranges to job candidates within 24 hours. This led to a focus on compensation and equality in the workplace. Having a consistent compensation structure is crucial for building a strong and healthy company. Fairness is determined by factors such as role, impact, and influence. It's important for companies to have benchmarks and target the 50th percentile to maintain consistency. Despite discussions about fairness, most employees don't turn down a merit increase. Companies should establish conditions for success to effectively navigate pay transparency.

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