Posts Tagged ‘pay transparency’
Pay Equity is a Priority for Employers In 2023: Here’s Why
Following the approval of the EU’s Pay Transparency Directive by the European Parliament, pay transparency has become a globally trending business topic that employers can no longer ignore. Yet it is still not a high priority for most organizations. Company leaders may claim that pay equity is critical to the success of their business, but…
Read MorePay Transparency Motivates Employees to Work Harder
Employees who feel and see their pay is fair through pay transparency and see themselves as part of a system where they can be promoted tend to work harder. That’s according to research reported in The Wall Street Journal, where multiple studies revealed the following: Knowing the salary of their colleagues can improve the productivity…
Read MoreThe EU Pay Transparency and Pay Data Reporting Directive and What You Need to Know
The United States isn’t the only country where gender pay practices have long come under fire for being unfair—with women historically demonstrated as the loser in equal pay battles. The European Union (EU) has grappled with its own inequities. As in the US, while laws related to equal pay have been in place for decades—in…
Read MoreBritish Columbia Poised for Pay Transparency Legislation
British Columbia Poised for Pay Transparency Legislation On March 7, 2023, British Columbia (B.C.) introduced new pay transparency legislation designed to help close the gender pay gap in the Canadian province. When passed, the new legislation, Bill 13, The Pay Transparency Act, supplements the current complaints-based system with proactive reporting and pay transparency requirements. But…
Read MoreNavigating EU CSRD and Pay Equality
EU Corporate Sustainability Reporting Directive: What It Means for Pay Equity The European Union (EU) Corporate Sustainability Reporting Directive (“CSRD”) was published on December 16, 2022 by the EU Commission. On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) came into force, driving pay equity forward in the European Union. Rules relating to this…
Read MoreThe Latest in Pay Transparency and Equal Pay Regulations
The Latest Developments in Pay Equity and Pay Transparency The history of regulations related to pay equity is nothing new. Equal pay regulations can be traced back to 1938, when the Fair Labor Standards Act (FLSA) was enacted. In 1945 Congress introduced the Women’s Equal Pay Act and, in 1963, the Equal Pay Act. There…
Read MoreHow 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 companies to share salary ranges by law. The latest pay transparency legislation came into effect on January 1st in California and Washington State. Pay transparency offers HR an opportunity to…
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 More