10 February 2024
Transparency Equals Trust Let's cut to the chase. Job seekers want to know what they're getting into, and can you blame them? Being upfront about salary shows that you respect their time and value fairness. It sets a positive tone for the employer-employee relationship from the very beginning, fostering a culture of openness and trust—a critical foundation for employee engagement and retention. Attracting Top Talent In today's job market, top talent holds the cards. By keeping the salary range under wraps, you're basically saying, "Trust us, it'll be worth it." But in a sea of job postings, why should they take the risk when other companies are shouting their salaries from the rooftops? Being transparent about pay can reel in top-notch candidates who know their worth and won't settle for less. I can tell you from experience that most of them don't even consider applying for the ad without the salary range. So, if you want to increase the quality and diversity of the applicant pool, be upfront. Building Your Rep Picture this: You're a job seeker scrolling through listings. You stumble upon a company that's all hush-hush about pay. What's your gut reaction? Yeah, probably not great. Transparency isn't just about attracting talent—it's also about your company's reputation. Word travels fast, and you don't want to be known as the company that plays coy with salaries. But It Will Cost Us More If you hire someone cheaply, thanks to a lack of transparency and by throwing a lowball, will this saving pay off in the long term? People talk. Sooner or later (and I bet it will be sooner), your new hire will learn how much his better-negotiating colleagues make and will feel cheated and unmotivated, looking to change the ship on the next occasion. It is just an extremely bad foundation on which to build a relationship, with much more to lose than the initial savings. The Change Is Coming Either Way In some jurisdictions, such as certain states in the United States, legislation mandates the disclosure of salary ranges in job advertisements. It does not apply yet to Australia, but does your company really need to be forced by law to do the ethical thing that even politicians have started figuring out? Bottom Line: Let's Keep It Real So can your company afford not to disclose salary ranges? It might seem like a small detail, but it speaks volumes about your company culture and how you value your employees. We suggest ditching the secrecy and starting to be upfront. Trust us, it'll pay off in the long run. And so, it happens you read this blog post on the JobTab website – a job board that only accepts ads with salary ranges. So, join the club of the transparent companies and post your first ad with us!