UK workers are demanding greater wage transparency and are more willing to reveal their own salaries for the sake of pay equity.
The research findings from Beqom suggest workers want to “level the playing field”, according to the cloud-based compensation solution provider.
More than three in five (62%) survey respondents are prepared to publicly share their salaries so that others can be made aware of pay levels in their industry. Millennials (70%) are the most willing to do so, followed by Gen Z (59%), Gen X (58%) and Baby Boomers (51%).
Tanya Jansen, co-founder of Beqom, said: “As the cost-of-living crisis shows no signs of slowing down and workers feel the pressure of making ends meet, it’s vital that companies focus on pay transparency within their organisations as transparency plays a pivotal role in pay equity.”
The Leveling the Paying Field Report also showed that more than two in five (42%) think there is a problem with gender pay gaps in their workplace, with more men than women believing this, at 46% versus 38% respectively. Additionally, a third (33%) of workers think their employer’s gender pay gap has increased in the last two years – up 14% since 2019.
Worryingly, more than one in five (22%) don’t think employer is taking the necessary steps to prevent or close gender pay gaps. Nearly half (47%) believe there’s a problem with age-based pay gaps at their workplace and 36% believe racial pay gaps are an issue for their employer.
Inflation has made 63% of respondents more likely to talk about their remuneration with colleagues, while more than half (56%) do not think their pay is fair.
Jansen added: “Employers should consider implementing more transparent compensation processes, utilising data and technology to help reduce potential biases and alleviate pay discrepancies.”
