Pay transparency is a hot HR topic across the world: In 2024, companies in the Singapore Exchange Regulation are set to disclose the salaries, benefits, possible bonuses and incentives of their C-suite execs and directors. As of last month, companies based in the European Union are now obligated to share information about pay differentials across gender. The directives alsoprotect a job seeker’s right to know about a position’s pay and total rewards, average pay for said roles broken down by sex and gendered pay gaps within an organization.
In the U.S. — as New York City continues to be a battleground for reasonable salary ranges and California’s SB 1162 mandates eligible employers to break down pay by race, ethnicity and sex for each wage band — two states are up next in this year’s evolving landscape: Illinois and Colorado.
A closer look at the laws show a more nuanced version of pay transparency, wherein employers post salary ranges for job seekers, but also give current employees a fair shot at applying for those jobs as well.
Sent to the governor’s desk in June, the Illinois legislature passed HB3129, which says that employers are now liable if recruiters fail to include pay range and benefits in job posting. It now awaits signature by the governor.
Likewise, the bill, which amends the state’s Equal Pay Act of 2003 law, mandates that employers let current employees know about promotion opportunities “no later than the...
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