New Jersey’s new pay transparency law goes into effect June 1. The law will require employers with ten or more employees to disclose certain compensation and benefit information in job advertisements.
New Jersey joins a growing number of states that have passed similar requirements over the last few years.
The new law requires covered employers to disclose in each job posting “the hourly wage or salary, or a range of the hourly wage or salary, and a general description of benefits and other compensation programs for which the employee would be eligible.”
In this news report, SBN News Director Steve Lubetkin gets some advice for businesses on how best to comply with the new pay transparency law from Helena Almeida, vice president and counsel at ADP, the Roseland, NJ-based payroll and benefits company.
Almeida explains the motivations behind the law, its importance in closing the pay gap, and the necessary steps employers must take to comply with the new regulations. The conversation also touches on the complexities of navigating compliance across multiple states and the resources available for employers.
ADP has a pay transparency hub with resources for employers on its website.
Takeaways
- The Pay Transparency Law applies to employers with 10 or more employees.
- Employers must disclose salary ranges and benefits in job postings.
- The law aims to close the pay gap between men and women.
- Pay transparency gives applicants more bargaining power.
- Getting pay right from the start helps avoid future gaps.
- Employers must notify internal employees of promotional opportunities.
- Consulting firms and temporary help firms have exemptions.
- Employers should conduct pay equity audits to ensure fairness.
- Training HR and hiring managers on pay policies is essential.
- ADP provides resources for compliance with the new law.
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