If you knew 50% of your employees didn't feel like they were being paid fairly, would you make the necessary adjustments to ensure your employees felt fairly compensated? Would you want to ensure your employees felt like if they were doing a good job, they were getting paid for it? Seems fairly obvious that you would but, according to the 2014 Towers Watson Global Workforce study, only 40% of employees think their employer links performance and pay scale. These numbers are pretty staggering. It's time employers listen to employees regarding employee compensation before there is irreparable harm done to the employee employer relationship and retention rates decline. Employers, on the other hand, know that they are only doing a mediocre job communicating pay scale. Only 35% of employers think their employees understand how base pay is communicated. So, employers have a few options at their disposal to improve employee compensation issues:
For more information on fixing a rocky (in some cases broken) employee compensation program, check out more from MarketWatch and the full Towers Watson study
here.