Pay Transparency

Pay transparency has come up as an important topic in both recruitment and retention, but did you know that it's also a law in several states?
Pay Transparency

The idea of sharing salary information, pay grade levels, pay philosophies, and other related compensation information is one that many employers have been uncomfortable with historically due to concerns of confidentiality, risk/liability, and also negotiating power.  However, more and more studies (see one from Mercer here) are recommending that companies do proactively communicate this information to job candidates AND to current employees, as an avenue of building trust and a more engaged workforce and closing any gender or other discriminatory pay gaps, ensuring a more equitable environment based on job skills and requirements.  

But did you know that pay transparency laws have also been passed in several states (with more to come soon)?  Make sure you review any requirements that relate to your office locality and take into account that you may be hiring for remote employees that could be based anywhere (including a state or local with specific legislation).  Here are some other tips for incorporating pay transparency into your current practices.  This is a trend which I don't believe companies will be able to ignore much longer.

Has your company instituted any pay transparency measures yet and if so, how has it been received?