Even though pay transparency is becoming a requirement for organizations around the world, only 19% of US companies actually have a pay transparency strategy in place, according to a recent report. While it’s not uncommon for organizations to take a “less is more” approach to their pay practices, companies are increasingly feeling pressure to do more and in fact, may be required in certain cases, such as with job postings in certain states.
“Total rewards professionals need to determine exactly what is being posted for open positions—whether it’s the entire pay range or the minimum to pay range midpoint,” said Jim Hudner, a managing director at Pearl Meyer.