People in different parts of the world are more open to talk about their income figures and expenses with others. This is attributed to the desire to learn about reasonable spending and seek better job opportunities. I believe that this propensity is detrimental to both businesses and individuals.
There are two driving factors behind the tendency of sharing their salary and spending among individuals. The first one is that they want to receive advice in terms of expenditure. This is because they can compare spending allocations for different aspects of their lives with others and learn from each other how to budget more wisely. Another justification is that they are inclined to acquire more information about competitive salaries, identifying better chances in the job market. When conversing with friends and colleagues about income, employees can be informed about better paying jobs and more desirable workplaces. As a result, they would likely alter between occupations and workplaces to earn more money.
However, I consider that this tendency has adverse impacts on both employers and employees. In terms of the former, it poses a threat to personnel management and retention. For instance, it is challenging for the human resources department in each company to offer a suitable salary to each employee when personnel openly share about their income in the workplace, failing to attract and retain talents who deserve higher income. Furthermore, people’s mentality can be adversely influenced. More specifically, they are likely to be stressed and depressed when finding out that others are able to spend more or purchase things that they can afford.
In conclusion, the rising trend of conversing about income and spending matters is rooted from the yearning for useful advice on budgeting and higher paying jobs. Nevertheless, I contend that it has deleterious influence on both employers’ management and individuals’ mental well-being.