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The global conversation around pay in the workplace has shifted significantly in recent years, with salary transparency becoming a central topic in job markets across the Asia Pacific. What was once considered off-limits or even taboo is now increasingly seen as a step toward building fairness and equity in the workplace.
This isn’t a passing trend. Employers and employees alike recognise that open conversations about salary can help address inequalities and create a more level playing field for everyone.
While the specific regulations and cultural attitudes towards pay transparency vary from country to country, the overall movement towards greater openness is gaining momentum throughout the region.
Related: 12 ways to create work-life balance for employees
Against this backdrop of changing attitudes, salary transparency offers several key benefits:
Salary transparency refers to the practice of openly sharing information about pay. This can range from listing salary ranges in job ads to providing detailed pay scales across an organisation.
The goal is to ensure that compensation practices are fair and open, helping to eliminate the secrecy that often allows pay disparities to thrive.
Lack of transparency can perpetuate pay gaps based on gender, race, and other factors. Transparency in pay exposes these inequities by bringing compensation details into the open, allowing employers to address them more effectively.
Salary transparency promotes fairness and aligns with broader efforts in advancing diversity, equity, and inclusion, and building trust in the workplace.
One of the major benefits of salary transparency is its role in tackling gender pay gaps. The gender pay gap is the difference in average earnings between men and women in the workforce.
It is typically expressed as a percentage of men’s earnings and can be influenced by several factors, including occupational segregation, caregiving responsibilities, and educational background.
Related: How to hire to improve gender diversity in the workplace
According to Vietnam Talent Trends 2024 Report, many employees have mixed feelings about their employer’s efforts to address pay equity, highlighting the need for ongoing attention.
Some 23% of women are satisfied with their employers’ efforts to close the gender pay gap; 31% are dissatisfied, and 46% are neutral. The survey also revealed a significant disparity in DE&I priorities between men and women.
‘Closing the gender pay gap’ was ranked as women’s second most important DE&I initiative but only a sixth priority by men. It’s crucial to understand that the gender pay gap is not a simple matter of unequal pay for equal work, which is illegal in many countries.
The gender pay gap is a complex issue, deeply intertwined with broader structural inequalities in the labour market. These include bias in hiring, promotion, and compensation decisions, and the underrepresentation of women in senior, higher-paying positions.
Promoting salary transparency helps level the playing field by:
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Access to salary information empowers employees, particularly those who have historically been paid less for equivalent work. With knowledge of pay ranges and company compensation strategies, individuals can negotiate more confidently and ensure they receive fair market rates.
This approach benefits employees and helps firms build a more loyal and motivated workforce. Furthermore, transparency fosters a culture of trust and open communication within organisations.
When employees understand how pay decisions are made, they are more likely to feel valued and fairly treated, leading to:
From a recruitment perspective, including salary details in job ads can streamline hiring by helping candidates self-select based on their salary expectations.
While the benefits of salary transparency are clear, implementing it can pose challenges. Concerns about potential conflicts among employees or fears that competitors might use the information to lure talent are common. However, these issues can often be managed with thoughtful strategies.
To successfully adopt salary transparency, organisations should:
It’s also important to remember that transparency is just one part of a broader commitment to equity – it must be supported by inclusive hiring, promotion practices, and ongoing efforts to address workplace biases.
As Vietnam's workforce continues evolving and aligning with global standards, the push for pay transparency will likely grow. This shift addresses pay equity and positions companies as progressive and employee-focused, which is increasingly important in today’s competitive job market.
As the landscape of work continues to evolve, we can anticipate several key trends in salary transparency:
AI-driven fairness: The increased use of generative AI and data analytics will play a pivotal role in identifying and addressing pay disparities, ensuring fairer compensation practices.
Transparency as a competitive edge: More companies will recognise the benefits of transparent pay practices as a means to attract and retain top talent, fostering a positive employer brand.
Regulatory push: There is a growing likelihood of stricter legislation mandating greater pay transparency, particularly for larger corporations, reflecting a societal shift towards greater fairness in the workplace.
Embracing salary transparency isn’t just about compliance – it is about fostering trust, fairness, and engagement in your organisation. Here's how both employers and employees can take meaningful steps towards greater pay transparency:
Use resources like Glassdoor and salary guides to understand market rates for your role and experience level.
According to our 2024 Candidate Pulse survey, job applicants in Vietnam primarily rely on these top three sources for the latest salary information, in order of preference: first, salary reports; second, recruitment agencies; and third, social media and online community sources like Reddit and LinkedIn.
Salary transparency is a powerful tool in the quest for workplace equality. By embracing this approach as part of retention strategies, organisations can promote accountability, build trust, and empower employees to advocate for fair pay.
As recruitment professionals, we have a unique opportunity to champion these changes, supporting employers and employees in creating more equitable workplaces.
Explore our job listings and the annual salary guides to stay informed about current salary trends and benchmarks. By fostering transparency in pay information, we can contribute to Vietnam’s fairer and more inclusive job market.
To get a comprehensive view of salaries and market benchmarks across various industries and roles in Vietnam, download the full 2024 Salary Guide, which features the average salary of roles in Vietnam's dynamic job market, or use our Salary Comparison Tool to see how your compensation compares to industry standards.
Ready to hire? We specialise in a variety of sectors and are ready to discuss your vacancy. Contact us and we’ll find the right consultant for your location and role.
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