Emboldened by a strong labor market, employees find themselves in the driver's seat these days when it comes to demanding pay transparency. And with a growing list of jurisdictions now requiring employers to share compensation information, this trend shows no signs of slowing down.
In this post we will address the rules surrounding pay transparency across the country and workers’ growing demand for it. We will also discuss employer pros and cons, as well as strategies to implement pay transparency practices in an organization.
WHAT IS PAY TRANSPARENCY?
Pay transparency is when an employer openly communicates pay-related information through established practices to current or prospective employees. Employers can provide this information through various channels, such as online job sites, job postings, or during an interview.