dollar sign on green background with abstract green hand (Photo: Shutterstock)

There is growing pressure for employers to be both transparent and competitive with pay for every role in their organization. Several states, including New York and Colorado, already have pay range laws in place that require the disclosure of pay scales to current and prospective employees. This wave of pay disclosure will continue with California, Washington and Rhode Island implementing similar legislation in 2023. Many companies are already disclosing pay rate information, even in areas where they are not required to do so, as they are getting more questions from current and prospective employees.

Most companies are simply not ready for this kind of transparency, either because they’re not sure how to tackle it from an administrative perspective, lack the job architecture, or are afraid of employee reactions when pay is disclosed. Already there are complaints about companies posting outrageously wide salary bands to skirt the spirit of these laws. The potential for dangers exists if current employees feel slighted during tighter labor markets where posted salary ranges increase.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.