From gender parity to the influx of younger workers in the workplace, the Randstad 2020 U.S. Compensation Insights survey explores sentiments of 1,213 American workers on today’s style of salary negotiations in the workplace.
here’s what we learned:
women have made major strides in pay equality, but there is still room for improvement
I have never negotiated
additionally, our survey reveals a disconnect between employer wants and employee needs regarding pay transparency
55% of all surveyed agreed: My company does not publish salary or pay information for each role.
60% of all surveyed agreed: I wish my employer would publish salary or pay ranges of what each role earns across the company.
54% of all surveyed agreed: I am not clear on how pay increases or bonuses are calculated at my company.
younger generations are more likely to “ghost” an employer, and they are also bolder when it comes to salary negotiations than their older colleagues
I've gotten 'cold feet' with a job opportunity in the past, accepting a job offer, only to change my mind and back out at the last minute.
59% of Gen Z
50% of Millennials
41% of Gen X
35% of Boomers
18% of Traditionalists
I've 'ghosted' an employer for a higher paying job opportunity elsewhere.
50% of Gen Z
50% of Millennials
35% of Gen X
19% of Boomers
9% of Traditionalists
I have used a potential job offer as leverage to negotiate a higher salary at my current employer.
58% of Gen Z
59% of Millennials
48% of Gen X
29% of Boomers
24% of Traditionalists
As a negotiation tactic, I've told a prospective employer I had another job offer — when I really didn't.
55% of Gen Z
55% of Millennials
39% of Gen X
24% of Boomers
15% of Traditionalists
However, 71% of Gen Z report they become uncomfortable when asked about their salary expectations during a job interview.
compensation remains a key factor in employee retention76% of all surveyed employees say their compensation is sufficient to make them stay in their current roles for the next 12 months, down from 83% in 2018.
It is important to me that my company awards raises based on an employee's performance, rather than solely increases for cost-of-living or inflation adjustments.
*source: Randstad’s 2018 Why Employees Stay or Go survey
Gen Z: 18 - 24 years old
Millennials: 25 - 34 years old
Gen X: 35 - 49 years old
Boomers: 50 - 64 years old
Traditionalists: 65+, retired
Research findings are based on an OmniPulse survey fielded by national polling firm Dynata on behalf of Randstad US. The survey was fielded from August 26 to September 2, 2019. It included 1,213 employed people between the ages of 18 and 65+ and a nationally representative sample balanced on age, education, gender and region.