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Webinar-Pay Transparency Legislation Series Ep 4

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Webinar-Pay Transparency Legislation Series Ep 4

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Join Payscale’s VP of People, Lexi Clarke; Chief Product Evangelist, Ruth Thomas; and Senior Corporate Attorney- Employment, Lulu Seikaly as they answer your most pressing questions surrounding recent and upcoming pay transparency legislation.

Join Payscale’s VP of People, Lexi Clarke; Chief Product Evangelist, Ruth Thomas; and Senior Corporate Attorney- Employment, Lulu Seikaly as they answer your most pressing questions surrounding recent and upcoming pay transparency legislation.

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Webinar-Pay Transparency Legislation Series Ep 4

  1. 1. Pay Transparency Legislation Series, Ep 4: 2022 Wrap Up & Ask the Experts
  2. 2. Today's Presenters Lulu Seikaly Senior Corporate Attorney- Employment Ruth Thomas Chief Product Evangelist Lexi Clarke VP, People
  3. 3. Today's Agenda • The story so far in ‘22 • What to expect in ‘23 • Ask the experts
  4. 4. 2022: Year of Pay Transparency https://www.inc.com/anna-meyer/pay-transparency-linkedin-big-ideas-2022.html
  5. 5. 5 NYC—Nov. 1, 2022 January 1, 2023 January 1, 2023 https://www.payscale.com/solutions/us-pay-transparency-legislation/
  6. 6. 6 Pay Reporting California reporting requirements: May 2023 • Additional reporting requirements to DFEH • Historical records of job posting, wage data and pay history • Publish pay ranges in job postings • Publish promotion opportunities including pay range prior to making internal promotions Illinois equal pay reporting obligations: • First state to seek employee-level pay information • Private employers with more than 100 employees • Provide EEO-1 Report, employee list (name, gender, race, county, total wages, hire date, job title, termination date, EEO-1 job classification) • Compliance statement Many European countries and the UK already requires pay reporting—trainings coming in 2023
  7. 7. Pay Transparency Legislation Series 2022 Pay transparency legislation overview (including New York City Legislation, Washington Pay Transparency Bill (SB 5761) Understand the impact on your business Steps to prepare for compliance Pay reporting legislation overview (including EEO-1 Reporting, California SB 973 & SB 1162, Illinois Equal Pay Reporting Obligations) How to create fair compensation practices that will reflect in your reporting outcomes. Pay transparency legislation update (including overview of Ithaca, New York Ordinance, New York City, Westchester County, New York State& California Legislation) Steps to prepare for compliance based on your current state of readiness Episode 1: April 8 Publishing Salary Ranges Episode 2: June 29 Reporting Requirements Episode 3: Sept 14 Preparing to publish salary ranges
  8. 8. State of readiness: Poll Outcomes
  9. 9. 0 5 10 15 20 25 30 35 40 45 50 NO, WE DO NOT DO THI S CURRENTLY WE ARE WORKI NG ON THI S WE ONLY SHARE RANGES FOR LOCATI ONS WHERE I T I S REQUIRED WE DO THI S FOR ALL LOCATI ONS NOT SURE Apr: 600 & Sep:755 votes DO YOU CURRENTLY SHARE RANGES IN JOB POSTINGS? Sept April
  10. 10. Poll Question 1 : Do you currently share pay ranges in job postings? A. No, we do not do this currently B. We are working on this C. We only share ranges for locations where we are required D. We do this for all locations E. I am not sure
  11. 11. 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 WE LACK CONFI DENCE I N THE ACCURACY OF OUR SALARY DATA WE DON'T HAVE ORGANI ZED PAY STRUCTURES (E.G. JOB BASED RANGES) WE ARE NOT CONFI DENT I N OUR PAY STRATEGY OR STRUCTURES WE ARE CONCERNED THAT WE HAVE PAY I NEQUITY I SSUES LEADERSHIP I S UNCONVI NCED I N THE M ERITS OF PAY TRANSPARENCY NOTHI NG - WE'RE SATI SFI ED WI TH OUR LEVEL OF PAY TRANSPARENCY Apr: 599 Sept: 667 votes WHAT IS PREVENTING YOU FROM REACHING YOUR PAY TRANSPARENCY TARGETS Sept April
  12. 12. Poll Question 2: What is preventing you from reaching your fair pay goals? (select all that apply) A. Leadership is unconvinced in the merits of pay fairness B. There is concern of legal risk in conducting pay equity analysis C. We don't have organized job architecture pay structures (e.g., job based ranges) D. We don’t have the governance in place to ensure sustainable fair pay E. Nothing - We're satisfied with our fair compensation practices
  13. 13. 0 5 10 15 20 25 30 35 40 LEADERSHIP I S UNCONVI NCED I N THE M ERITS OF PAY FAI RNESS THERE I S CONCERN OF LEGAL RI SK I N CONDUCTI NG PAY EQUI TY ANALY SI S WE DON'T HAVE ORGANI ZED JOB ARCHI TECTURE PAY STRUCTURES (E.G., JOB BASED RANGES) WE DON’T HAVE THE GOVERNANCE I N PLACE TO ENSURE SUSTAI NABLE FAI R PAY NOTHI NG - WE'RE SATI SFI ED WI TH OUR FAI R COM PENSATI ON PRACTI CES 110 votes WHAT IS PREVENTING YOU REACHING YOUR FAIR PAY GOALS?
  14. 14. What to expect in ‘23
  15. 15. What to watch out for in 2023? New York State—waiting for Governor’s signature • Watch out for more states/cities considering to enact pay transparency legislation • South Carolina? • Massachusetts? • Pay reporting legislation? Enacted 270 days after signature
  16. 16. How Payscale will support you More pay transparency legislation webinars and resources, including maintaining our Pay Transparency Legislation Guide Payscale provides the data, technology, and services you need to successfully achieve pay transparency Our product development strategy remains focused on driving pay fairness and transparency for organizations of all types ​ Option to participate in further research and to tell your stories
  17. 17. Poll Question 3: As our team digs deeper into pay transparency, we'd love to hear from you! Are you interested in participating in customer research or speaking on a webinar? A. I'd like to participate in a webinar B. I'd like to participate in internal research C. I'm interested in both options D. I'm not interested
  18. 18. Ask the experts
  19. 19. Payscale's Journey to Pay Transparency In the spirit of pay transparency we are excited to share the base salary for the position is $62,800 - $103,000, exclusive of fringe benefits or potential bonuses
  20. 20. • How can we prepare our leadership and hiring managers that this is coming, and gain buy in that it is the right next step for our organization? • How should we approach internal pay transparency considering this legislation? Should we share salary ranges internally before we post externally? • How do you foresee pay transparency legislation affecting compensation departments who invest in salary survey data to get the same type of information if all competitor data will now be visible?
  21. 21. • Can you speak more about the term “in good faith”? That feels so vague, how are we supposed to set parameters? • There has been a lot of buzz around businesses in New York posting very broad salary ranges. Why do we think this is happening and what are the impacts of it on future employees and the businesses themselves? • What best practices are you seeing for posting the ranges when the ranges can differ by location. For example, if you have a range of $80- $100k in NY but $90-$110k in CA. Do employers post both ranges, or combine into one big range? • What if our organization is fully remote? Do we have to post ranges for every job posting or just postings directly related to the legislative states? Can we alter our language to say the role is remote in a certain territory? • What are the consequences for business who are trying to skirt these laws with broad ranges or not posting remote roles in these states? • Are there any federal laws around pay transparency on the horizon?
  22. 22. Q&A Feel free to ask any questions in the chat!

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