Posts Tagged ‘pay transparency’
How to Set Equitable, Explainable, and Competitive Salary Ranges
Pay transparency is a key issue facing HR in 2023. It’s estimated that one in four U.S. workers is covered by a law that requires organizations to post salary ranges in job listings. The latest pay transparency legislation came into effect on January 1st in California and Washington State. Pay transparency offers HR an opportunity…
Read MoreTrusaic Research Report Details The Connection Between Pay Equity and Technology
Our research report with the Josh Bersin Company finds that 72% of C-suite say that pay equity is a critical component of their people and business strategy. Moreover, companies utilizing specialized technology for pay equity analyses are 3.2 times more likely to engage and retain employees and seven times more likely to attract talent than…
Read MoreImplementation of California SB 1162 Exposes Challenges for Employers
Conventional wisdom has it that progress doesn’t come without growing pains. This lesson is currently playing out in California with the implementation of its new pay transparency and pay data reporting law, SB 1162. In effect since the start of the new year, California SB 1162 joins the ranks as one of the most aggressive…
Read MoreSEC Enforcement and ESG – What You Need to Know
When most people think of Securities and Exchange Commission (SEC) enforcement actions, their minds probably jump to sensational crimes seen on the news, like insider trading and Ponzi schemes. Indeed, these do make up a fair number of SEC enforcement actions. But the SEC conducts hundreds of different enforcement actions every year, collecting billions of…
Read MoreWashington State Updates Pay Transparency Guidance
Get ready, employers. Washington State’s pay transparency law goes into effect beginning January 1, 2023, and requires employers to disclose salary and benefit information in job listings. To help employers comply, The Washington State Department of Labor and Industries (L&I) has issued several iterations of a draft administrative policy detailing the requirements. Below we cover…
Read MorePay Transparency Can Save Employers Money—and More
When it comes to pay transparency, saving employers money is just one of the advantages. There’s a whole business case for pay transparency that starts with savings. Though it may seem counterintuitive, according to recent research, job listings with pay in the title cost about 67 cents less per click. That’s about a 35% lower…
Read MoreLeaders and Laggards of NYC’s Pay Transparency Law
New York City’s highly anticipated pay transparency law took effect on November 1, 2022. The new law is intended to help reduce gender and racial pay discrimination. At a high level, it requires employers to share minimum and maximum salary or hourly wage for new positions, promotions, and transfers. So, how’s it going now that…
Read MoreNew York City Pay Transparency Law Takes Effect Nov. 1
New York City’s trending pay transparency law is finally set to take effect on November 1. The law requires employers to share salary ranges for new positions, promotions, and transfers in an effort to help reduce gender and racial pay discrimination. Below we go into the details of the new law, explain its history, and…
Read MoreWashington’s Pay Transparency Law Has Implications for all Employers
With the passage of Senate Bill 5761 earlier this year, Washington state is joining a host of others in amending laws to promote pay transparency. The new legislation requires salary range disclosures in all job postings and has implications for employers across the country. What does the law require? Beginning January 1, 2023, the Washington…
Read MoreThe State of The Pay Gap in 2022
It’s true that 2022 has been a banner year for change in the workplace. With so many states enacting new laws requiring organizations to prove they harbor fair pay practices, it’s clear that we’re on the path to finally closing the pay gap. Despite the utmost progress though, the World Economic Forum still predicts that…
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