Pay Transparency Will Drive Compensation, Says KnowledgePay

Webcast to discuss importance of effective communication to increase employee satisfaction, engagement

Sycamore, IL (PRWEB) June 18, 2009 — In an upcoming Webcast, KnowledgePay compensation experts will discuss how organizations can benefit increasing their communications about pay, essential to keep employees committed and engaged.

While the term may evoke apprehension in some corporate minds, pay transparency does not mean that every person in a company knows what the other people are making. Every company operates on a continuum of transparency – ranging from absolute secrecy to full disclosure. Where the company falls is often a function of the organization culture.

The Webcast, scheduled for Wednesday, June 24 at 2:00-3:00 p.m. EST with registration at http://www1.gotomeeting.com/register/607883377, will provide some practical guidance in implementing a more transparent approach to communications about pay and includes:

• Defining Pay Transparency
• How companies can convert their compensation data into meaningful knowledge
• How organizations can leverage pay transparency in a tough economy
• Steps companies can take towards great transparency

“Information about pay is everywhere,” said Chris Kelley, founder and chief executive officer of KnowledgePay. “The question is – how accurate is that information people are blogging, chatting and Twittering about? A company will only benefit by increasing their communications about pay and their basis for compensation decisions.”

Management can increase operational efficiency, save time and money, as well as increase revenue by being more communicative about pay. Employees who understand the foundation of their company’s compensation plan, how they fit within it, and how their pay stacks up relative to other alternatives are more committed to the company and more engaged in their work.

Improved communication is vital. Citing foundational research in the Knowledge of Pay Study, Kelley shows that “organizations that are perceived to pay less competitively achieve higher organizational effectiveness when they share more knowledge about pay and pay processes.”

To register for the webinar, go to http://www1.gotomeeting.com/register/607883377.

About KnowledgePay
KnowledgePay delivers enterprise HR software with a relentless focus on compensation intelligence. KnowledgePay's innovative on-demand technologies help organizations and their people succeed by maximizing engagement, alignment, passion and productivity. KnowledgePay solutions integrate all sources of job and compensation data with groundbreaking analytic tools to drive HR productivity and business results.

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Contact: Gail DeLano
Fisher Vista/HRmarketer
(831) 685-9700
gdelano(at)fishervista.com