Salary seems to be one of the most controversial topics in the recruitment space. As a recruiter, should you share salary information when advertising jobs? As a candidate, should you tell recruiters your salary expectations? As an employee, should you tell your colleagues how much you earn? Is it appropriate to talk about salary and benefits at a job interview?
Throughout the years, I have been taught much about what we should and should not do. But overall, one thing is clear - people don't like talking about money. You may argue that it is on a case-by-case basis but, in my experience, New Zealanders in general are very reluctant to share how much they earn.
When I talk to potential candidates over the phone, some happily share their desired salary expectations, others don't really want to settle on a particular number, but most people don't want to share their current salary. And there are many reasons why - some don't want to rule out options based on money, others are afraid they will undersell themselves, and some people just straight up don't know how much they are "worth" in the market.
LinkedIn has recently released its Global Talent Trends 2019 report, which included a list of benefits of sharing salary ranges, according to companies that do.
It shows that:
- Sharing a salary range at the start of the hiring process helps streamline pay negotiations later
- Revealing a range can ensure that every employee is being paid fairly, building trust
- Letting candidates know the range early on filters out those who would decline an offer based on pay
- Getting money out of the way allows you to explore other things during the interview
I definitely agree that being transparent about salary ranges makes the process better for everyone involved. Sadly, it looks like most companies are not as supportive of this idea.
What do you think?
While pay transparency is a big talking point right now, LinkedIn found that just over half (51%) of the talent professionals surveyed say their company doesn’t currently share a salary range and is unlikely to start anytime soon. The vast majority (75%) of those worry that sharing a range will upset employees.