As of September 17, 2023, New York State has taken a significant step towards pay equity and transparency in the workplace. A new law now requires businesses with four or more employees to disclose compensation ranges for job postings, promotions, and transfers. This landmark legislation aims to address wage disparities and promote fair compensation practices across the state.
Key Points of the New Law
- Applies to businesses with four or more employees.
- Employers must list the minimum and maximum annual salary or hourly compensation for designated job opportunities, promotions, and transfers.
- The provided ranges should reflect the employer’s good faith belief at the time of posting.
- If a position is commission-based, this must be clearly stated.
- The law prohibits employers from retaliating against employees who discuss their compensation with coworkers.
Impact on Employees and Job Seekers
This legislation empowers employees and job seekers by providing access to vital compensation information. With this knowledge, individuals can make more informed decisions about their careers, negotiate fair salaries, and identify potential wage disparities.
What Employers Should Do
To comply with this new law, employers should:
- Review and update their job posting processes
- Ensure all relevant positions include accurate compensation ranges
- Train hiring managers and HR staff on the new requirements
- Review internal policies to ensure they don’t prohibit pay discussions among employees
For the most up to date information, please visit Pay Transparency | Department of Labor (ny.gov).
