Talking About Money

It used to be considered very tacky to talk about money. No one really knew what anyone else was getting paid. This worked to the advantage of HR departments, of course. But that’s changed.

One study sponsored by Bankrate found that 40% of Millennials and 42% of Gen Z workers have shared their compensation with a coworker or a colleague. For Baby Boomers, the generation that long dominated the workforce, that number is a lot lower: 19%. So it’s more than twice as likely as it used to be that your employees are talking amongst themselves about what they earn.

You should assume this is happening, and for this reason — among many, many others — ensure your pay policies are equitable and transparent.