Since we have started tracking the gender pay gap, the difference between the earnings of women and men has shrunk. But significant disparity in how men and women are paid still remains. What often gets lost in translation is what the uncontrolled wage gap truly represents — that women are less likely to hold high-level, high-paying jobs than men. There are structural barriers which keep women from advancing in the workplace— this is what we call the opportunity gap. This year, we took a close look at the intersection of gender and race and examined how the gender wage gap differs for women of various races. We also examine the opportunity gap for women of different races. Between January and Februarynearly 1. They also reported morw information, including age, gender, and race. We leveraged this sample to provide insights into the controlled and uncontrolled gender pay gap.
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Compensation for executive managers is different from compensation for other employees in most organizations. Executive compensation covers employees that include company presidents, chief executive officers CEOs , chief financial officers CFOs , vice presidents , occasionally directors, and other upper-level managers. These high-level employees are paid executive compensation. Executive compensation is different from compensation for lower-level employees. The salary and other benefits are negotiated and are documented in a customized employment contract. This is because the senior leaders of an organization come from positions in other organizations where they made top dollar as increasingly senior leaders. They expect to make comparable compensation before considering a move to a different organization. The contract spells out compensation, benefits, perquisites perks , performance bonuses , separation and severance agreements, and other special terms of employment. The combination of salary, incentives, and bonuses is often referred to as Total Cash Compensation TCC for executives. Executive compensation is negotiated between the potential executive and the employer. Non-executive compensation is most often similar among employees who do the same job within a standard salary range. The comprehensive set of benefits and perks is also the same or similar for non-executive employees. Executive compensation, however, is negotiated. It may include substantial differences in perks, benefits, and salary from the organizational norm for the rest of the organization’s employees. Executive salary can range from a few hundred thousand dollars into the high millions.
Changing tides
Take advantage of that protection. By Tim Herrera. That money — along with sex, politics and religion — is a topic best avoided in polite conversation is a cultural concept many of us are raised on , and taboos around discussing income can be particularly sensitive. There are exceptions, including for supervisors, agriculture workers and domestic employees. Open discussion of salaries among peers and co-workers, experts said, is a powerful tool to fight pay inequity. Cornell said. Sign up here for the Smarter Living newsletter to get stories like this and much more! Elizabeth, who requested her last name not be used because of the sensitivity of discussing her salary, worked in sales at an arts company and this year shared her salary with a junior co-worker who was up for a promotion. That co-worker, during her own salary negotiation, let slip to a manager that Elizabeth had shared her salary. Knowing that she was legally in the right, Elizabeth brushed off the encounter, and 10 minutes later her manager rushed over to apologize. Even the savviest among us can get caught up in the pressures of salary secrecy. Armed with this knowledge, I politely made the case for my own, without mentioning anything but my work ethic and commitment. My boss relented, but reprimanded me in the process. In just the past few years, cultural norms and legislation have begun to unravel some of the forces that discourage open salary discussion, sometimes even tilting pay negotiations in favor of employees. A handful of states , including California, Connecticut and Massachusetts, have banned employers from asking job candidates for a salary history, which shifts some leveraging power back to candidates. Evan, a social media strategist in Atlanta who also requested his last name not be used, knows firsthand the benefits of open salary discussions. After interviewing for jobs at competing marketing agencies last year, he realized he was being paid below the market rate for someone at his experience level. He told co-workers his discovery, and he said many of them were in the same situation. After initially responding with halfhearted gestures and speeches about workplace culture, Evan said, leadership at the agency eventually succumbed to the pressure and gave every employee a raise. Other times, Ms. Having these conversations is much easier said than done, but there are ways to gain confidence in discussing your salary. Most important, Ms. McGurran said, is to be open and genuine, framing these conversations as beneficial for everyone involved. From there, try to approach peers, co-workers or fellow alumni in off-campus, laid-back settings, all while keeping the focus on the salary and not the person. McGurran said.
Things to keep in mind
A transfer at work is an approach to helping employees develop a career path. A transfer provides experience in other areas of an employee’s current department or in a new department within the business. A work transfer is a way to help an employee gain wider and broader experience within the business. Often it is more available than a promotion because fewer employees inhabit each successive layer as they rise up the organization chart. As managers look for ways to help employees continue to develop their skills, experience, and knowledge about the business, a transfer is an option to consider.
When working with a performance development planning PDP process, along with promotions, a transfer provides an opportunity for an employee to learn and grow. A transfer to a different job at work is a sign the organization cares about and will provide opportunities for the employee’s development, one of five factors employees say they want to obtain from work.
Research from the Society for Human Resource Management SHRM indicates that career development is a huge part of what helps employers retain their top employees. So, if you’re serious about retention, a job transfer is another opportunity you can offer career-savvy staff members. A transfer will not necessarily result in a higher salary. It can if the transfer is really a promotion, or if the other workers doing the same job make more money than the transferring employee.
A transfer provides a career path for an employee when a promotion is not available because the employee:. It’s tempting to say no downsides exist when an employee transfers to a new job, but that isn’t always true.
For every positive, there’s a potential negative flipside because the employee:. For the employer, the major downside is that the employee will not produce as successfully until they learn the new job.
The employer will also have to fill the employee’s former position. To counter these concerns, consider that a good employee who has succeeded in the past will learn quickly to contribute to the new position. If the employer has worked to develop succession planningthe employer has the right employee waiting to take the transferring employee’s job. Please note that the word transfer is often used interchangeably with the term lateral movealthough a transfer can also involve a promotion, whereas a lateral move does not.
Employee Wellness Discrimination Work Schedules. By Susan M. Gains experience by performing a different job with new responsibilities that require different skills Overcomes boredom and dissatisfaction with their current job by having a new and different job with changed responsibilities and tasks Is challenged with a chance to expand their accomplishments, reach, and impact, and potentially influence different aspects of the workplace and organization Experiences a change of scene and work environment, requiring them to adapt and learn to manage changethereby increasing the ability to deal with ambiguity Learns about different components, activities, and jobs in the organization and how work is accomplished in different departments or job functions.
This builds their organizational knowledge and ability to get things done, which increases their value to the organization Prepares for a promotion or broader organizational role by expanding their skill set and responsibilities, and gaining broader knowledge about the total organization. Gains visibility with a new group of co-workers and managerswhich brings more potential opportunities Grows without leaving the company, thus emloyee makes more money then others in the same job salary, accrued benefitsand company perks.
A company change might, for instance, require starting off with fewer available vacation weeks. Must learn a whole new job. When an employee has been comfortably and happily performing in their current position, this change can require a lot of energy investment, learning, and adjustment. Needs to develop a new network of customer and co-worker relationships. The new network has different ways of accomplishing work and getting things. The employee will need to learn this way of doing business and adjust their behavior.
Might not work effectively with the new boss. There are bad bosses out thereand even if this is a good one, any new boss requires an adjustment. Might not like the job, the work, or their new co-workers and must succeed or become ineligible for additional transfers and promotions. The employee could opt to leave the company. Must work hard, work longer hours, and do more to prove they deserved the new position and that the organization picked the right person.
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Looking for an easy way to keep up on the latest business and HR best practices? Join our growing community of business leaders and get new posts sent directly to your inbox. Sometimes the promise of extra experience, a shorter commute or a few extra perks can convince high-level recruits that your business is the best place to work, even if it pays less than larger companies. Frankly, the groundwork for making a compelling appeal to your dream candidate begins before the first interview. Do they need to have a certain certification, years of experience or established contacts in the industry? Next, consider what makes your company different and what you have to offer besides salary. Then, during the interview process, pay close attention to what each individual candidate says.
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