For a very long time, the prevailing theory for many companies and their employees was to keep salary information quiet. In fact, some organizations made explicit policies preventing their employees from discussing their pay rates with one another on the job. But there is new evidence that suggests salary transparency may not only be good for the company but also good for employees. So what do people really think about this trend of being open about the money they earn? Let’s take a closer look.
Increased motivation
Studies have shown that workers who know what each position makes within the company are far more motivated to contribute than those on worksites where pay rates are kept secret. But why is this? If you feel your company is being fair with pay and not paying different rates to people who do the same job, you’re more likely to feel understood and appreciated while on the job.
Less focus on competition
This also means that you’re less focus on competition. While you certainly want to make as much as you can, you’re not worried about whether or not you make more than the laborer next to you. This can take your mind of competition so you can focus firmly on the tasks at hand.
Solution to pay inequality
Employees are also happier when they know that pay equality doesn’t factor into the job environment. There is a lot of talk lately about whether or not women or people of color are being paid the same as their white male counterparts. But with salary transparency, it will be clear whether or not pay inequality exists for any reason and you can make an informed decision about an employer.
Better teamwork
Ultimately, without the secrecy of pay rates looming over the heads of everyone in the shipyard, you will be able to let down your guard and focus on teamwork. And in an environment where safety is often the top concern, fostering teamwork is far more important than creating an environment where each employee is uncertain about their worth and contribution to the organization.
Work with a leader in shipyard staffing.
Do you want to know more about the salary trends in the marine industry? Contact the team at Hutco today.
