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All too often organisations advertise their roles without showing the salary. In this blog we explore how showing the salary can help you attract the best candidates for your organisation and create a more equitable and transparent hiring process.
Showing the salary has a positive effect on application numbers
Did you know that salary is the number one reason that candidates apply for a role?
When was the last time you brought something where you didn’t know the price? So why would you apply to a role that didn’t show the salary?
Many don’t apply for this reason and you could be missing out on great candidates!
Showing the salary is likely to increase the number of applications you receive. Furthermore, it prevents wasting both you and the candidates time by avoiding interviews with candidates whose salary expectations you cannot meet. When this happens the candidates often comes away with a negative perception of your organisation and is less likely to apply for future roles.
Not showing the salary can perpetuate existing pay gaps
If you are basing your salary offer on candidates existing salary and they are currently underpaid in their current role, it is likely that candidate will continue to be underpaid in their new role.
Statistics by the ONS show that the gender pay gap in April 2023 stands at 7.7%. It also shows that’s between 2012 and 2022, Black, African, Caribbean or Black British employees consistently earned less than White employees.
Showing the salary helps to promote equality, fairness and close existing pay gaps. Being upfront about compensation demonstrates transparency and honesty, which helps build trust and a positive reputation for your organisation.
TPP are committed to always showing the salary and have signed up to show the salary pledge! If you would like advice on how showing the salary can benefit your organisation get in touch with Samantha.johnston@tpp.co.uk.