What Is On The Horizon For Pay Transparency?
2024—a new year—has started. Last year, we saw a lot of movement in terms of pay transparency. This movement took the form of a number of states and localities passing legislation in an effort to increase pay transparency. Many of these laws mandated that employers within those locations include salary ranges within their job postings in an effort to increase pay transparency in the hiring process. Such laws also had the added benefit of increasing transparency for those within an organization by revealing how much that particular organization was offering for a role, as well as for others within the industry in similar roles.
Last year, we also saw an increase in the normalization of conversations concerning pay transparency as well as an increase in the embracing of pay-transparency measures by many different demographics.
So, with the new year, what can we expect in 2024? While we have yet to see any new legislation proposed in the early weeks of this year, we likely can expect to see more pay-transparency laws introduced throughout the months and years to come, given the positive momentum we have already seen in recent years. We can also likely expect that pay transparency measures—in some form—will continue to be more normalized as laws continue to be passed, employers continue to increase transparency, and conversations continue to be had surrounding this important topic.
We look forward to continuing to see the positive momentum surrounding this area in 2024!