Insurance
Salary Transparency – Should You Tell Your Colleagues How Much You Earn?
By Planner Bee  •  September 13, 2022
Discussing salary with your colleagues has been taboo for a long time. One employment expert even calls it one of the “most subversive acts” a worker can do. Unfortunately, this aversion to talk about salary openly causes many people to lose out on wages they deserve, as companies end up allocating resources wrongly. So would an open salary culture, where employers and employees share about their salary packages openly with others, turn things around? Does an open salary culture exist in Singapore? Yes it does, but mostly in Singapore’s public sector, which has more than 150,000 workers. The sector is transparent about what it pays every worker, from entry-level officers to ministers. The formula for calculating bonuses based on performance is also publicly disclosed....
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By Planner Bee
We're a team of energetic financial experts obsessed with data, investments, finances, and understanding what's moving the world around us.
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