Why Salary Transparency?

Why listing salary is more likely to land you a candidate

Posted: 19/11/2022

Read Time/Watch Time

5 minutes

Who should read this?

employers, managers, recruiters

Author(s)

Melanie Barham

Why Salary Transparency?

In a crowded employees market, it’s hard to stand out in a sea of job ads.  With over 20% vacancy rate (AVMA, 2021), every organization searching for a new hire wants an edge!

We’ve given this so much thought at VSGD.  It is the top request from community members every time we’ve asked in every country when we ask “what do you want to know about a job before applying?”

Here’s what we know about listing salaries:

 

  1. Ramp up your applicant numbers by a factor of 2-3

In an independent market research study conducted by us in 2021-2022 in North America, we case controlled similar veterinary professional and support staff job ads in similar locations and tracked their stats.  

“Jobs with salary range posted received anywhere from 2-3 times more applications. Job ads with salary range listed had 4-5 times more views than those without salary.”  

I could probably stop there- those are compelling enough stats to stop anyone in their tracks.

Particularly if you are in an area where candidates may make assumptions about salary range (rural, large animal positions, charity or not-for-profit, academia, government), listing salary dispels myths. Salary range reduces the internal struggle of whether to apply or not.  We are all about reducing barriers!  

  1. Decrease hiring hassle for employers

When you provide a salary range, you waste less time guessing at what an applicant wants.  In a similar market research study we conducted, employers who listed salary reported less time spent on the hiring process as a whole, and experienced less stress during negotiation.  Employers were also more likely to nab their top choice candidate. 

  1. Increase diversity of applicants

If your workplace is serious about attracting diverse candidates, listing salary is one easy way to start. In a veterinary market research survey we did in 2021 with over 100 respondents, 90% of respondents had experienced discrimination in the hiring  process, and many responses involved unfair negotiation practices.

“One of our favourite books Inclusion on Purpose  states that salary transparency is a concrete step employers can take to close the gender and racial pay gap.”

Listing salary is a clear signal to candidates from under-represented groups that you care about equity. You’re open enough to share the salary so everyone can start with the same information.  

 

At Vets Stay Go Diversify, we require every listing to have a salary range, and we’re proud to have been doing this for over 2 years.  We want you as an employer to attract the right candidates, and we want candidates to find their best match with as little effort on either side as possible. 

Whether you list with us or not, we hope you’ll join us in embracing salary transparency in job listings!  

Get in touch to see if we can help you with your vacancies.

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