The Wall Street Journal had a story the other day about a new challenge facing companies - young people are more willing than their elders to share their wage and benefit information with their friends and fellow employees.
According to the story, “Roughly a third of U.S. workers ages 18 to 36 say they feel comfortable discussing pay with their co-workers, more than any other age group and about four times the rate among baby boomers, ages 53 to 71, according to a survey of 1,000 employees conducted by personal finance firm Bankrate Inc.’s RATE +0.18% TheCashlorette.com. Nearly half of the millennials surveyed say they talk about compensation with their friends, compared with 36% of Americans overall.”
According to the story, “Roughly a third of U.S. workers ages 18 to 36 say they feel comfortable discussing pay with their co-workers, more than any other age group and about four times the rate among baby boomers, ages 53 to 71, according to a survey of 1,000 employees conducted by personal finance firm Bankrate Inc.’s RATE +0.18% TheCashlorette.com. Nearly half of the millennials surveyed say they talk about compensation with their friends, compared with 36% of Americans overall.”
- KC's View:
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Let’s face it. Managers have long been able to take advantage of employees, and manipulate them, because there was some level of secrecy about things like wages and benefits. But that advantage may no longer exist, and managers are going to have to get used to it.
