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Pay transparency – or salary transparency – is a setup in a company (or industry) where companies provide information on pay and compensation to employees.
There are three different types of salary transparency according to Harvard Business Review:
Process transparency refers to openly communicating the methodology and criteria used by an organization to determine salaries, including how compensation levels are set, how raises and bonuses are awarded, and how performance is evaluated in relation to pay adjustments.
Outcome transparency involves disclosing the actual compensation figures, such as specific salary ranges or benchmarks for different roles and levels within the organization,