U.S. companies plan to increase their level of employee communication about pay and pay equity, although they realize it may be a struggle.
"Many U.S. organizations are providing more visibility into their pay programs and practices," said Mariann Madden, North America Fair Pay co-lead for WTW. "Boards of directors are taking ownership for pay equity and pay transparency and are looking for organizations to define, monitor and report on their commitments and priorities. Pay equity and transparency are closely linked. It will be very difficult to have confidence in one without the other in place."
The 2023 Pay Transparency Survey from WTW found that increasing regulatory requirements are encouraging organizations to communicate their organization's broader pay policy. However, barriers to pay transparency remain as employers fear increasing questions and are concerned about their effectiveness in educating their workforce on this complex topic.
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