Pay Transparency 101
New or pending state laws will require companies to disclose salary ranges of job postings for the first time (Korn Ferry, 2022). Other states and localities are requiring employers to disclose compensation to applicants automatically or upon request (laws/ordinances vary by location). Some, including California, Rhode Island and Washington have come into effect as of Jan 1, 2023.
Reporting requirements are also anticipated on the federal level. In a quote
by Trusaic (2022), “The Equal Employment Opportunity Commission [is gearing] up for the return of EEO-1 Component 2 Pay Data Reporting”.
Employers, what are you waiting for? Get ahead of upcoming legislation now by conducting a pay equity analysis.
You can also explore our interactive maps to learn more about the state of pay transparency.