Today we’re introducing the TribeHR Pay Raise Index, a gauge of social HR health and opportunity, in order to get a snapshot of how workplaces are recognizing employees and doling out the dough.
To create the Index, we analyzed salary and workplace recognition (“kudos”) data from 20,000 employees at 2,200 small to medium-sized companies between Q1-Q3 2012. Our key research finding was that women are actually beating men when it comes to the number of raises being handed out. We determined that 7.4 percent of women received raises compared to only 6.2 percent of men.
When analyzing the size of these pay raises, however, it was clear that men are getting bigger raises than their female peers. In fact, men are three times more likely to earn a salary increase in excess of 25 percent. Looking at pay raises of 5 percent or more, 60 percent went to men and just 38 percent to women.
Fair pay? Not so much.
They broke out some of the statistics they found in the infographic below – please feel free to share your thoughts on this in the comments. What fascinated me the most was the correlation between recognition of peers and the likelihood of a pay raise. In instances where women find themselves in an environment where they don’t have peers, or that aren’t as friendly to women workers, is the resulting lack of positive peer review affecting pay increase?
It would be a positive argument for proactively seeking mentorship programs outside the workplace, like the one run by Hot Mommas Project.