Yes, you do know it is performance review cycle again. Employees may be negotiating for additional pay increases. They want higher salary. Who doesn’t? See my blog post on improving the performance review process. Employees will crawl through the Internet searching for salary survey and any data on market increases. They are looking for data to benchmark their relative pay levels. They want to know if their pay is competitive and if their employers are paying them fairly.
A quick Internet scan will find a series of salary surveys and press articles reporting on the latest quarter salary trends. This industry is hiring and putting pressure on employers ability to meet salary hike demands. Or another report may indicate employers increasing bonuses to retain key talent. Or one might ask their friends to compare notes on what each other’s companies are doing.
Now armed with a trove of salary data employees will come back to their managers to show how they are underpaid given the work they have produced for the company. Not knowing how to respond, managers pass on the employee question to HR and expect them to talk to their staff. Here is what managers can ask.
3 things to ask your employees to consider:
- Why would any company give away proprietary information for free?
- What is the core business of the agencies who are putting these reports out? Would you trust data from a source that is not core?
- Would it be in your company’s interest to underpay their talent?
This reminds me… Use of this information is at your own risk. As always, should you or any of your IM force be caught or killed, the Secretary will disavow any knowledge of your actions. Good luck, Jim. This tape will self-destruct in five seconds. Mission: Impossible
- “Pay For Performance” Doesn’t Work For Generation Y (fastcompany.com)