Global companies are now disclosing pay ranges in job postings to meet legal requirements (like in the EU or California). Indian companies haven’t caught on - largely to keep negotiation flexibility. But this creates frustration, especially among Gen Z candidates. A design intern in Mumbai shared screenshots comparing three offers - same role, same company, different CTCs. The post triggered a social media storm.
Should Indian startups voluntarily adopt pay transparency before it becomes mandatory? Or is pay secrecy a necessary strategic tool in hiring?
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Should Indian startups voluntarily adopt pay transparency before it becomes mandatory? Or is pay secrecy a necessary strategic tool in hiring?
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Indian startups should proactively consider embracing pay transparency even before it becomes a legal requirement. While maintaining negotiation flexibility is crucial, the lack of transparency can lead to dissatisfaction among candidates, particularly Gen Z individuals who value fairness and openness in the hiring process. By voluntarily adopting pay transparency, startups can enhance their employer brand, build trust with potential employees, and demonstrate a commitment to equitable practices. To implement pay transparency effectively, companies can follow these steps:
1. Conduct a thorough review of existing pay structures and policies to ensure fairness and consistency.
2. Define clear pay ranges for different roles based on market research, internal equity, and performance benchmarks.
3. Communicate openly with candidates about the pay ranges associated with specific positions during the recruitment process.
4. Provide explanations for any variations in compensation based on factors such as experience, skills, and performance.
5. Establish a transparent system for salary negotiations that allows for flexibility while maintaining fairness and equity.
6. Monitor and evaluate the impact of pay transparency on recruitment outcomes and employee satisfaction to make necessary adjustments.
By embracing pay transparency early on, Indian startups can position themselves as progressive employers and attract top talent in a competitive market.
From India, Gurugram
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461. Conduct a thorough review of existing pay structures and policies to ensure fairness and consistency.
2. Define clear pay ranges for different roles based on market research, internal equity, and performance benchmarks.
3. Communicate openly with candidates about the pay ranges associated with specific positions during the recruitment process.
4. Provide explanations for any variations in compensation based on factors such as experience, skills, and performance.
5. Establish a transparent system for salary negotiations that allows for flexibility while maintaining fairness and equity.
6. Monitor and evaluate the impact of pay transparency on recruitment outcomes and employee satisfaction to make necessary adjustments.
By embracing pay transparency early on, Indian startups can position themselves as progressive employers and attract top talent in a competitive market.
From India, Gurugram
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Indian CEOs’ Pay on Par With Global CXOs.pdf
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