Pay Transparency Gains Traction Across Workforce
We’ve written about recent studies revealing that Gen Z overwhelmingly supports pay transparency with the vast majority declining to apply to jobs that fail to include a salary range in the job posting. But this phenomenon is no longer unique to Gen Z. Indeed, support for pay transparency has gained traction across the entire U.S. workforce in recent months.
Specifically, according to a recent study conducted by the Society for Human Resource Management, 82% of U.S. workers are more likely to consider applying to a job when the pay range is listed in the job posting. This support is no longer limited to a single generation and instead covers the entire U.S. workforce including Millennials and Baby Boomers. Moreover, the support is not limited to the eight states that currently have pay transparency laws in place but stretches across the entire U.S.
While some companies have proactively begun to include salary ranges in their job postings regardless of whether they are required to under a specific state law, many still have not. However, with the increase of support for pay transparency across the entire U.S. workforce, we may see more of a shift towards proactive measures by companies to include this information as an opportunity to set themselves apart in a favorable way during the hiring process. Moreover, with the increase in support for such measures, it is likely that we will see additional state legislation supporting pay transparency in the months and years to come.