REWARD MANAGEMENT
Communication about pay is critical to job satisfaction
Less than half of US employees surveyed by the Society for Human Resource Management and financial news broadcaster CNNfn agree that their organisation’ s pay policy is fair. But the survey reveals that employees are more inclined to believe their company’ s pay policy is fair if HR professionals explain compensation packages to them.
Nearly half of the employees who were dissatisfied with the communication explaining how their pay was determined were also dissatisfied with their total compensation package. Conversely, when employees understand how compensation is determined, they tend to be more satisfied with their compensation packages and jobs overall.
"Although compensation is only one component of overall job satisfaction, communication within the organisation is another. Organisations should take every opportunity to communicate with their employees on issues of importance in the interest of transparency and open communication within the organisation," said Susan R Meisinger, president and CEO of SHRM.
Ken Jautz, executive vice president and general manager of CNN Business News, said: "The survey results show that for working Americans straightforward communication from their employers about their compensation is absolutely critical to their job satisfaction."
Want to know more?
Title: Job Satisfaction Series: Job compensation/pay survey, published by Society for Human Resource Management and CNNfn
Availability: Visit the SHRM web site at www.shrm.org/press for more details.
The Society for Human Resource Management (SHRM) is the world’ s largest association devoted to human resource management, representing more than 175,000 individual members. Founded in 1948, SHRM currently has more than 500 affiliated chapters within the United States and members in more than 100 countries. Visit SHRM online at www.shrm.org
CNNfn, the financial network of the CNN News Group, delivers business news and personal finance programming to viewers each weekday.
Posted 8 March 2004