The Daily Stat from Harvard Business Review

October 9, 2015 Chart of the Week: Are You Paid at Market Rate? A survey of 71,000 workers by PayScale found that 64% of people who are paid at the market rate for their positions believe they’re underpaid. For those who are paid above market, 45% think they’re paid at market. Writing on HBR.org, PayScale’s Dave Smith argues that people’s often false perceptions about their wages play a huge role in whether they are engaged in their work or intend to leave — and that one way for managers to address this issue is to have honest conversations with employees about how their pay compares with others’. Even if your company pays below the market rate, Smith notes, clear communication about why that’s the case can keep people satisfied with their work regardless. To view, download, and share charts and graphics like this one, visit our Visual Library (sign-in required). SOURCE: Most People Have No Idea Whether They’re Paid Fairly

BEST SELLERS HBR's 10 Must Reads: The Essentials | HBR's 10 Must Reads Ebook Boxed Set | HBR Guide to Persuasive Presentations Ebook + Video Case Study | HBR Guide to Better Business Writing | HBR Guide to Getting the Right Work Done

FEATURED PRODUCT Getting Beyond Better: How Social Entrepreneurship Works HBR Press Book Who drives transformation in society? How do they do it? In this compelling book, strategy guru Roger L. Martin and Skoll Foundation President and CEO Sally R. Osberg describe how social entrepreneurs target systems that exist in a stable but unjust equilibrium and transform them into entirely new, superior, and sustainable equilibria. These leaders—disrupters, visionaries, or changemakers—develop, build, and scale their solutions in ways that bring about the truly revolutionary change. Getting Beyond Better presents a bold new framework for understanding how successful social entrepreneurs go about producing transformative change. Martin and Osberg offer rich examples and share lessons and tools invaluable to anyone who aspires to drive positive change, whatever the context. Buy Now

FEATURED PRODUCT Financial Intelligence Collection Special Offer Many managers can’t read a balance sheet, wouldn’t recognize a liquidity ratio, and don’t know how to calculate return on investment. This specially priced collection gives managers mastery of the financial basics they need to plan, budget, forecast, and control resources with confidence. Buy Now

ADVERTISEMENT

HBR.ORG | THE MAGAZINE | TOPICS | BOOKS | CASES | STORE | SUBSCRIBE TO HBR UNSUBSCRIBE | NEWSLETTERS PRIVACY POLICY | CONTACT Copyright © 2015 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing 60 Harvard Way Boston, MA 02163 CUSTOMER SERVICE: 800-988-0886 (US/Canada) 1-617-783-7500 (outside the U.S. and Canada)