Sponsored by WorldatWork, a compensation and benefits trade group, the survey found that having workers who are knowledgeable about their pay plan can make the workers more trusting of management, more committed to the company, and more likely to stay around.
The trend of finding more satisfied workers among those with more pay scale knowledge was true at all income and employment levels including senior management, the survey found.
The survey also found a strong reluctance by many workers to talk about pay at all. In fact, 50% of employees responding to the survey indicated that they felt pay programs were still “taboo” – not to be discussed.
The survey covered more than 6,000 managers and employees from 26 North American companies.