Managing a generation of young people inclined to share relationship statuses and meal photos on social media requires employers to adjust the way they approach compensation, experts say.
“Pay and promotions are not secretive topics anymore,” says Mary Ann Sardone, who consults with large employers on compensation issues and leads the workforce-rewards practice at benefits consultant Mercer, a unit of Marsh & McLennan Cos.
“Companies are spending more time ensuring their pay decisions are fair, and highlighting career paths under the assumption that the information is going to be widely shared,” she says.
Roughly a third of U.S. workers ages 18 to 36 say they feel comfortable discussing pay with their co-workers, more than any other age group and about four times the rate among baby boomers, ages 53 to 71, according to a survey of 1,000 employees conducted by personal finance firm Bankrate Inc. Nearly half of the millennials surveyed say they talk about compensation with their friends, compared with 36% of Americans overall. READ MORE.
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