SEATTLE, May 30, 2018 (GLOBE NEWSWIRE) -- Today PayScale, Inc., the leader in precise, on-demand cloud compensation solutions for businesses and individuals, announced its second round of 2018 Hero Award recipients featuring the top 100 organizations where employees feel fairly paid. Employees who feel they are paid fairly are more satisfied and more engaged with their work and are more likely to be retained by the organizations for which they work.
“It’s critical for organizations to think about their pay brand and ensure people feel good about the exchange of value — compensation for investment of effort — because when employees lack information, they’re not likely to give you the benefit of the doubt,” commented PayScale Vice President Lydia Frank. “Employees are more likely to feel fairly paid when companies are transparent about their pay strategy and practices. There really is no downside to sharing your organization’s approach to compensation, but there’s a well-researched downside to remaining silent.”
According to the recent report, "Deloitte Human Capital Trends 2018: The Rise of the Social Enterprise," Josh Bersin commented on its findings, "Organizations need to do a much better job of paying people in ways that matter to them, creating more transparency in the process, and giving people more information about why compensation decisions are made the way they are. Everyone feels personally invested in their pay, bonus, and benefits, so in many ways this is the most powerful lever we have as leaders."
The PayScale Hero Awards feature employers who get high marks from their workforce on key employee engagement metrics. PayScale’s second Hero Awards go to the organizations where employees feel they are paid fairly, as voted on by their employees.
The top organizations awarded PayScale Hero status have an impressive 70 percent of respondents saying they feel fairly paid. PayScale included organizations where at least 40 percent of employees reported high pay fairness. By contrast, only 21 percent of workers overall feel fairly paid according to recent PayScale research. The companies awarded PayScale Hero status have at least twice as many employees who feel fairly compensated.
Companies with a 40 percent or higher fair pay sentiment ranking include:
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PayScale examined data from more than 57,474 distinct employers to understand which organizations are the true heroes of 2018 when it comes to fair pay. For more information and to view the 100 PayScale Hero Award Recipient organizations, please refer to the full PayScale 2018 Hero Awards data at: www.payscale.com/hero-awards
Methodology
Employees were asked to rank the statement "I feel that I am paid fairly" on a five-point scale from 1 – Strongly Disagree to 5 – Strongly Agree. High Pay Fairness represents the percentage of employees selecting a 4 or 5. Employers are included in the list if at least 40 percent of employees report high pay fairness.
About PayScale:
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 6,500 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 18 million employees. These companies include Dish Network, Getty Images, Skullcandy, Time Warner, T-Mobile, Macy's, Sunsweet, UnitedHealth Group, Stihl and Wendy's. For more information, please visit: www.payscale.com or follow PayScale on Twitter: https://twitter.com/payscale.
Press Contact:
Erica Beyer
Email: erica@fireflycmns.com
Tel: 206.321.0727