The Good and the Bad of Pay Transparency Regulations
As more states adopt pay transparency regulations, it’s important that business owners throughout the country are aware of the laws that may be heading their way. That’s why on this episode we have Frank Kerbein, Director of the Center for Human Resources at the Business Council of New York State, talking with us about the newest bills coming out of New York City and New York State, and what they mean for businesses and employees. Listen in as he talks about what salary transparency is, the impact these laws have on job seekers, the growing trend of wage compression, and more.
00:50 – Introduction to Frank Kerbein
02:22 – The Business Council of New York State
03:09 – What is going on with pay transparency?
04:47 – What exactly is pay transparency?
05:36 – Why pay transparency regulations are needed
07:49 – Impact on New York job seekers
09:32 – Pay transparency laws at a national level
11:19 – Wage compression for current employees
13:48 – Compensation beyond salary
15:50 – Employer audits
17:06 – Pay transparency regulation issues
18:59 – Where the New York State bill stands
20:24 – Wrap up
Learn more about pay transparency and what the benefits are at www.paychex.com/articles/management/pay-transparency.
Find out what you need to know about the Equal Pay Act and pay equity at https://www.paychex.com/articles/human-resources/what-hr-needs-to-know-about-pay-equity.
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.