Tired of staff complaining about being underpaid? Here is a new tool by Glassdoor to help you prove to your team how much they are worth.
Called “Know Your Worth,” the tool allows users to input their employer’s name and location, job title, years of relevant experience and current salary. After a quick calculation, it then tells you how much your staff ought to be paid.
Currently, this feature covers 55% to 60% of the American workforce.
Before this new tool by Glassdoor, salary information and other details about working for a certain organisation could be found on sites such as Payscale.com, Indeed.com and Salary.com or various online forums for workers.
With this information being made available on the internet, employers need to be prepared to be more transparent with pay offers.
Earlier research by PayScale, revealed that 82% of employees were satisfied with their jobs, even if they were paid lower than average, if their employers clearly communicated why they offered smaller pay cheques.
“Even with all the transparency, it’s still pretty hard to know where you fit in your company,” Dawn Lyon, vice-president of corporate affairs at Glassdoor, told The Washington Post.
“You can do the research, but how does that play for your job right now? What’s happening in your industry and in your market?”
While these tools offer employees information on compensation, it is wise for employers to be prepared and gain some insights into expectations from staff to avoid getting into a gruelling a pay negotiation.