In most organizations, compensation is not made public, but what if you stumble on information that alerts you that a peer is making more than you in a similar position? Writing in the Harvard Business Review, Rebecca Knight, a senior correspondent at Insider and former Wesleyan University lecturer, suggests what to do — and not do — in this situation.
As for the don’ts: Don't be rash or rude. Don't mention your higher-paid coworker by name (focus on you). And don't stay in a job any longer than you must if your company refuses to pay you market value for your role.
Have you ever had to address a salary discrepancy? How did the situation resolve? To join the conversation, click "comments" above. We would love to get your feedback.
Are some of your employees about to hand in their notice? Timothy M. Gardner, management professor at Utah State, and Peter W. Horn, management professor at Arizona State, identified numerous “pre-quitting behaviors“ that are often tip-offs that a resignation could be in the offing in the next 12 months.
Just like poker players exhibit various “tells” that reflect the strength of their hands, workplace “tells” can signal future turnover. Through detailed questionnaires administered to managers, the authors distilled the most common pre-quitting behaviors.
“Typically,” say the authors, “organizations handle a turnover problem with large scale interventions to improve departmental or firm-level commitment, job satisfaction, and job engagement. These strategies may work, but they take time to design and implement. Thinking in terms of the turnover risk of specific employees allows you to invest your time and resources in those employees who create the most value and are actually at risk of leaving.” One technique is to use what are called “stay interviews.” Instead of conducting only exit interviews to learn what caused good employees to quit, hold regular one-on-one interviews with current high-performing employees to learn what keeps them and what could be changed to keep them from straying.
Are any of your employees exhibiting signs of quitting, and what action might you take to get them to reconsider? To join the conversation, click "comments" above. We would love to get your feedback and hear about your experiences!