Data insights are transforming how HR leaders are able to address issues like pay transparency.
Above, Berkowitz makes the case for the value of benchmarks in setting salary benchmarks which then informs pay transparency.
Get up-to-date pay transparency resources and best practices at ADP.com/PayTransparency.
When you think about things like pay transparency or skills-based hiring or any of the new capabilities that are only available because we have data, right? It actually transforms the company overall because the company is now making statements on fact as opposed to just old opinions. And so, you know, how do you set your range for pay transparency?
You've got to get back to "What's the market going to bear?" And you just can't guess at that. You can't say, "Well, it's just because people that work here make this much."
And so it gives you an awareness by looking at those benchmarks, whether those benchmarks come through surveys, whether they come through measured data like we have or whether they come from some other methods, you can set an acceptable range. And that transparency allows people to understand where they sit.