COMP NEWS – Nearly three-quarters of workers report having discussed their salary with co-workers, according to a new survey.

Salary transparency, an issue that has taken political and legal strides in the workplace, is now making its way into conversations between co-workers. The frequency of these conversations has risen alongside the increase in negotiations in the hiring process, and laws mandating companies provide salary ranges in new job ads. 

 

The efficacy of these salary transparency conversations is up for debate, but according to a survey from invoicing solutions provider Skynova of just over 1,000 full-time employees, these interactions are taking place at a presumably unprecedented pace. Seventy percent of surveyed employees said they have taken part in conversations in which they shared how much money they made with their co-workers. 

Those not discussing salary work say they are restricted from doing so from contract-related restrictions or because their managers have asked them not to.

For those not talking about salary at work, it may not be entirely by choice. Data shows nearly one in four employees who aren’t having these conversations aren’t doing so because of a contract-related restriction. Another one in five of that category said they aren’t discussing salary with others because a manager asked them not to. 

 

The consequences of knowing how much co-workers earn has some positive impacts on employees. A third realized they were underpaid, with just over a fifth (22%) getting a raise as a result of sharing their knowledge with the appropriate party. Despite some seeing rises in compensation, less than one in 10 (9%) said the knowledge resulted in gaining fairer compensation. 

 

To the satisfaction of leaders worried that some may look elsewhere for work if they know how much their teammates made, only 3% of employees reported quitting as a result of knowing their co-worker’s salaries. Remote workers, many of which are suffering from productivity paranoia and participating in trends like quiet quitting, are 33% more likely to look for another job after knowing their co-worker’s salary versus those who have some time of regular in-person commitment. 

According to the survey, 30% of full-time employees would feel unappreciated if they discovered that freelance contractors were earning more than their own salary.

Freelance work, a trend that CFOs have tapped into with both positive and negative results, can sometimes result in hourly wages much higher than a full-time employee’s salary calculated at an hourly rate. 

 

According to Skynova, a majority of full-time employees would either feel indifferent or disappointed, but not enough to make them look for work right away. According to findings, 30% said they would feel indifferent, while another 30% also said they would feel unappreciated. Only 28% said they would feel frustrated, while just 26% said would be surprised to learn a freelancer gets paid more than they do. 

To read more about the survey, click here.

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