The Trump Administration has put a halt on a rule from the Obama Administration that would require that companies share data on what they pay their employees as well as information on race and gender. In spite of this recent action by the current administration, in a recent article that appeared in the Chicago Tribune, it’s unlikely to slow the increasing push for companies to be more transparent with regard to employee pay.
Potential employees, shareholders and governments at the local and state levels have also demanded that this information be made available in order to help reduce pay gaps between men and women. Workers are turning to websites such as Glassdoor and Payscale and taking into consideration whether or not an organization will state that men and women are paid equally. Shareholders and financial institutions are demanding this information in addition to its being required by more and more state employment agencies
Fatima Goss Graves, Chief Executive of the National Women’s Law Center says that it not something that can be stopped. It’s a clock that isn’t likely to be unwound. “The White House’s effort to stop the rule is not going to stop the push for pay transparency that’s coming from employers or from shareholders. States are going to start stepping up and filling in the breach, “she said.
Gail Greenfield, a principal at the consulting firm Mercer indicates that companies are talking much more openly about any pay gaps that exist. Those who are in the job market are watching, listening to the news, and doing their research online. For those companies who don’t put this information out there, workers might come to the conclusion that issues surrounding equal pay less of a priority those organizations. “As more companies become transparent, there’s going to be greater pressure for other companies to become transparent,” Greenfield said.
There can of course, be a bit of a difference in what companies report that they do within press releases and what they do in actuality. At least five states currently require this information from companies with more states which are likely to follow in the future as the trend continues. Many companies have made it a priority to try to eliminate the disparity in pay between genders.
The world of work and hiring people to be a part of any organization is constantly changing. Pay equality is one of the ways that workers, investors and governments are demanding. Being able to say at the outset that equal pay is important within your organization is something that you need in this increasingly competitive marketplace. You want to be as attractive as possible to be attractive to potential employees. Making sure you meet worker expectations in addition to you own company’s needs is part of what we will help you do at NetPEO
NetPEO can help you to address all of your organization’s human resource needs. We can help you in recruiting new workers as well as help you to retain the good workers that you already have and help you to find and hire new recruits to fill open positions you may have.
NetPEO offers a wide range of services which include payroll services, managing employee benefits, liability management for employers, brokerage services, and employee leasing. Contact us today to discuss your company’s current needs and to schedule a free assessment with results that you can see and that are guaranteed.