Most marketing and advertising executives (82%) say their organization does not publicize employees’ compensation, according to recent research from The Creative Group.
The report was based on data from a survey of 200 marketing executives randomly selected from companies with 100 or more employees, and 200 advertising executives randomly selected from agencies with 20 or more employees.
Some 61% of marketers surveyed say instituting an open salary policy (i.e., making pay data easily accessible to all employees) would decrease staff morale.
Respondents say the top benefits of an open salary policy are increased productivity (18% cite it as a benefit), improved recruitment/retention (17%), narrower wage gaps (16%), and the development of an atmosphere of trust (15%).
However, more than one-fourth (27%) of marketers say the potential negative consequences of an open salary policy outweigh any benefits.
About the research: The report was based on data from a survey of 200 marketing executives randomly selected from companies with 100 or more employees, and 200 advertising executives randomly selected from agencies with 20 or more employees.
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Ayaz Nanji is an independent digital strategist and a co-founder of ICW Content, a marketing agency specializing in content creation for brands and businesses. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.
LinkedIn: Ayaz Nanji
Twitter: @ayaznanji