In the summer of 2021, Connecticut and Rhode Island joined a handful of states requiring wage range disclosure in an effort to create greater pay transparency. For some employers, transparency creates high anxiety, while others have been embracing transparency for years. Regardless of where you are on the transparency continuum, the current labor market talent shortage is creating many challenges as employers struggle to recruit and retain the talent they need. In a front-page article on August 2nd, The Wall Street Journal reported that wages for job switchers rose 5.8% in the last year, but only 3.1% for people who stayed in the same position. Will pay transparency help or hurt organizations in the current environment? It is clear that employee expectations have changed, and higher wages are rippling through the ranks. Being prepared and avoiding unintended consequences will be key. Our panel discussion will explore the impact and opportunities associated with pay transparency and offer a variety of perspectives to consider.
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