Pay rate and range disclosures are about to increase in North America.
A new Willis Towers Watson (WTW) survey called "The 2022 Pay Clarity Survey" finds that 17 percent of companies are already disclosing pay-range information in U.S. locations where they are not required to by state or local laws.
Also, 62 percent of organizations are planning to, or considering, disclosing pay rate information in the future, even where there are not local mandates requiring them to do so. This will include information such as hiring range and full salary range, with 58 percent of companies planning on doing the former and 48 percent the latter. The survey finds that 71 percent of companies plan to use a consistent approach in determining which pay rate and range information to disclose across all jobs. Over half of organizations (57 percent) are applying a geographic pay policy to determine the pay rates or ranges, and they will differ based on location of the job.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.