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Salary Transparency – Would you be Ready?

The Specialized Human Resources Services Team | November 12, 2020
THE CONCEPT
Including rewards information in all public job offers (expected salary or salary range), submitting pay transparency reports to the government, and making these reports available online or posting them prominently in each workplace are some of the measures included in the Pay Transparency Act. Proposed in Ontario in 2019, its eventual passage could influence other provincial governments to follow suit. If that were to happen, would you be prepared?

TOOLS THAT ARE EASY TO DEVELOP

In order to adequately communicate certain information about salaries, it is important that your approach be clear. As such, it is essential to put in place certain basic tools.

 

FORMALIZE YOUR SALARY POLICY:
Your policy must help avoid arbitrariness and misunderstandings by identifying the components that you favour in your overall rewards package and by clarifying the rules that govern them, such as: the choice of your market positioning, the standards for determining your salary upon hiring, the criteria for salary progression, as well as the tools used.

 

 

CREATE SALARY STRUCTURES AND UPDATE THEM PERIODICALLY:
Allows you to keep your salaries competitive in your market.

 

 

 

 

IMPLEMENT A FORMAL JOB EVALUATION SYSTEM:
Allows you to rank the existing positions in your organization in terms of their relative value.

 

 

DEFINE A SALARY PROGRESSION MECHANISM:
Depending on your environment, a progression linked to service accumulation or a method based on performance criteria could be implemented. The latter would require the creation of a performance evaluation tool combining performance and current salary position in order to define individual salary progression.

 

Lussier Dale Parizeau’s team of rewards experts is at your disposal to establish with you the implementation plan for better communication of your rewards policies and practices.
We therefore invite you to contact us for any questions regarding the rewards statement or for any other consulting service regarding total rewards.

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The Specialized Human Resources Services Team

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