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SEATTLE, July 31, 2018 (GLOBE NEWSWIRE) -- Today PayScale, Inc., the leader in precise, on-demand cloud compensation solutions for businesses and individuals, announced its third list of 2018 Hero Award recipients, featuring the top 100 organizations where compensation practices and approaches are shared most openly. Research shows that employees who understand how and why they are paid develop more trusting relationships with their managers, are more engaged at work and stay with the companies longer.
“People are more likely to trust their employer if it’s clear how and why they are paid the compensation they earn. There really is no downside to sharing your organization’s approach to compensation, but there is a well-researched downside to remaining silent,” commented PayScale VP Lydia Frank. “Employees feel better about their deal when organizations are more transparent about pay decisions and practices.”
Of note, restaurants and grocers dominate the top 10—both industries where profit margins are relatively thin, which suggests that transparency may be a distinct advantage in these highly competitive industries.
The PayScale Hero Awards for Pay Transparency feature employers who rank highest for being transparent with employees regarding pay practices as reported by their own employees. To arrive at the following list, PayScale examined employee feedback from more than 47,000 distinct employers to understand which organizations are the true Pay Transparency Heroes of 2018.
The top 100 companies are:
For more information and to view specific ratings of the 100 PayScale Hero Award Recipient organizations, please refer to the full PayScale 2018 Hero Awards data at: www.payscale.com/hero-awards
PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 6,500 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 18 million employees. These companies include Dish Network, Getty Images, Skullcandy, Time Warner, T-Mobile, Macy's, Sunsweet, UnitedHealth Group, Stihl and Wendy's. For more information, please visit: www.payscale.com or follow PayScale on Twitter: https://twitter.com/payscale.