Disclosure or non-disclosure? I believe this conversation around remuneration will remain with us for a long time. First off, different factors come to play where this subject is concerned namely; the kind of business ownership, number of years of operation, best fit practices etc.
While in a #learning session & while we deliberated on the issue, a participant indicated needing guidance on how best to avoid the pitfall and/or consequences of #reward disparity in favor of a new set of tech inclined workers who would be hired to man new manufacturing equipment their company recently acquired.
According to him, most of current operators are older with little or nil propensity to acquire new knowledge vis-a-vis the handling of new #technology. He’s already envisaging some form of showdown & hopes to take proactive steps for the sake of business continuity.
To my mind, it’s hard to keep reward for new joiners (indeed for most staff) secret for long. In this regard, I believe the following are imperative:
Information on roles critical to business & differentials in the reward for this category should be well known across business & not left to the rumor mills;
Every #business would need to ascertain the cost cum benefit associated with operating an open or closed #compensation system; meaning, does the cost of dealing with distrust, resentment & disengagement instigated by perceived unfair reward system (which really is the crux of agitations around compensation) outweigh the cost of putting in place a structure that’s predominantly seen as fair?
In the final analysis the call is the #business’. Either way, disclosure or otherwise, there are consequences to be lived with. #foodforthought.
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