Workers are overwhelmingly in favor of greater pay transparency, but many are unaware of looming changes. That could create headaches for employers.
The push for pay transparency is growing across the nation, with both job seekers and governments playing a lead role.
The survey of roughly 2,000 workers living in the metro area found 81% of respondents favored pay transparency, but only 70% were aware of the looming change in New York City. The change takes effect Nov. 1. “That's a big number which points out the growing need for salary transparency,” Beorsma said in an email. “ This is certainly gaining traction throughout the United States. The experts who study salary transparency say it's key to closing wage gaps, creating employer accountability and empowering the workforce in general.
Colorado passed legislation in 2021 requiring employers to include pay range and benefits in every job listing. Washington state became the most recent to require salary information in job postings, a change set to take effect in 2022. Washington's law is notable because it would require some of the biggest tech giants, including Microsoft Corp. and Amazon.com Inc., to list their pay ranges, potentially having a domino effect.
In fact, a new survey of 19,000 professionals from LinkedIn found the majority of business owners are unwilling to share their salary information with family members, much less their colleagues. The survey highlights a divide over growing calls for pay transparency in the workplace — a push that is growing at a time of soaring salaries, elevated turnover and an intense hiring environment.
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