Better quality & better qualified candidates

While crafting a tailored approach took time, the results of their commitment to pay transparency were remarkable.

They quickly noticed an uptick in the quality of candidates applying, particularly those with the right skills, qualifications, and genuine passion for their specialist industry. Moreover, enhanced employee relations were evident, particularly around trust, significantly enriching their positive and supportive workplace culture.

This project illustrates how clear frameworks and practical implementation can transform pay transparency from compliance to a competitive advantage.

Our client, a forward-thinking organisation preparing for upcoming pay transparency legislation, engaged Merities Consulting to guide their pay transparency implementation. 

What distinguished this organisation from its competitors was its remarkably low CEO pay ratio. This impressive ratio was achieved by significantly increasing salaries for Individual Contributors, junior positions critical to their success. However, the lack of external transparency in pay severely limited their ability to attract top talent who were unaware of the competitive salaries offered.

The initiative was strategically divided into two phases.

Phase one concentrated on developing a rigorous reward structure to ensure transparency and fairness in compensation. This included crafting a relevant job-levelling framework to meet their current and future requirements. Additionally, Merities Consulting conducted a thorough analysis of external and internal salary benchmarks to ensure competitiveness and alignment with their compensation philosophy.

Once the foundational elements were in place, Merities Consulting moved to phase two to guide them in defining what pay transparency would mean for their organisation. Ultimately, they decided against full disclosure, recognising that such a drastic change could lead to unforeseen complications. Instead, they published pay ranges and engaged senior managers in a comprehensive change management process, empowering leaders to communicate confidently about the pay factors when approached by candidates and employees.