Posting Salary Ranges: It's Worth It!

Here is something to consider: Would you commit to purchasing an apple at the grocery store that didn't have a price tag? Maybe, depending on how much you needed the apple, or how much money you have to safely gamble on the unknown priced apple. Scaling the example up, what about shopping for a house, also without the price listed, with only access to information about the features and capabilities of the options on the market? How do you know what factors to apply when making a decision about what you can afford and therefore what options you have to pick from?

Asking job seekers to search for a role without a salary listed on the job posting is not exactly the same situation, but a similar conundrum presents. What if the job appears to be an excellent match for the candidate’s skills and experience, but would also be a significant pay cut that the candidate is unaware of?

According to research from Payscale, over 80% of workers won't even apply for a job without a salary range posted. While not required to be included in job postings yet, candidates are no longer satisfied with the lack of transparency around compensation during the job search process. Not only will posting a salary range attract more applications overall, it will attract applicants who are willing to trade their skills and knowledge for the pay being offered.

Perhaps you are thinking that by posting the salary range candidates will only ask for pay at the top of the range. Not always, but this is a good situation to prepare for. The trajectory of pay transparency is gaining momentum and continuing to spread on a global scale, so complete avoidance of these potential scenarios is a rapidly expiring approach. There will be new conversations that will need some practice to get "right" when embarking on the journey of becoming more transparent with pay decisions and practices.

While embracing pay transparency sounds a little scary, risky, and possibly completely overwhelming, it is the safer bet for organizations who want to remain competitive as laws and worker sentiment are shifting. We'd love to help build your confidence, and your salary ranges!