Wage Transparency – a Free Benefit in High Demand

In an effort to provide employees with more transparency and consistency, American Express is now posting salary ranges with their job listings, even though it’s not always required by law. In New York City, a new requirement states that all companies with four or more employees must post their pay ranges, joining California, Washington and Colorado.

This new requirement allows job seekers to potentially negotiate higher salaries while knowing what others in the company are making, ensuring fair wages for all. This is a simple initiative employers can take in an attempt to retain and attract employees, without having to dip into funds. Providing a benefit like wage transparency allows future employees to know what to expect, so that they can make the right decision and invest their time and energy in a company that offers transparency and fair wages for everyone.

Citigroup is another company currently posting salary ranges consistently with their job listings throughout the United States, and Microsoft stated it will also post salary ranges starting next year. With many large companies considering it, only 17% of organizations are already posting wage ranges when not required to do so by law.

For hourly workers, the practice of posting wages is already common, but with salaried employees now on the lookout for compensation disclosure, fairer wages for all staff members is sure to be a side effect. With the law in California taking effect next year, employees who are currently working will be able to find out the wage ranges for the jobs they already have, even if they aren’t posted. This allows employees to potentially advocate for higher wages more easily. 

For more information contact Eric Allen Kauk, Esq., LL.M. at (813)-203-0208 for guidance.