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📢 ATTENTION B.C. EMPLOYERS! The 'Pay Transparency Act' in British Columbia is revolutionizing how employers in BC operate. Effective November 1, 2023, all B.C. employers are required to disclose the expected salary range or wage for publicly advertised job openings. This requirement encompasses job listings on company websites, job search platforms, and other public venues. This disclosure requirement does not apply to job opportunities that are not publicly posted or to general recruitment campaigns like "help wanted" posters that do not specify a particular job opening. But that's not all! Larger employers are required to prepare and publish annual pay transparency reports by November 1st each year. To delve deeper into the additional obligations introduced by the Pay Transparency Act, explore our comprehensive article here👉 https://bit.ly/47aaXFd #paytransparency #employers #hrupdates #britishcolumbia #HRCanada #HRCovered

Pay transparency in the US is advancing, but it's also gaining traction globally. Some 28 countries now have some type of pay reporting. It varies from country to country, of course, but includes the UK, the Netherlands, and Chile. Last year the EU Council adopted a pay reporting rule that requires companies in the EU to provide information about how much they pay women and men for work of equal value and take action if there is a differential exceeding 5%. The new EU roles makes it compulsory for employers to disclose to job seekers the starting salary or pay range and prohibits questions about compensation history. The rules apply to companies with 250 or more employees. #paytransparency #workplacetrends #compensation #hiring #payequality

According to a recent WTW survey, 6 in 10 #HR respondents disclosed #joblevels to employees and 48% communicated how individual #basepay is determined. Just over one-third of employers disclosed #payranges, but 46% were planning or considering doing so in the future. #PayTransparency #PayCommunications #PayisPowerful #GetPayRight (via HR Dive)

Pay transparency is here to stay. In the pre-internet world, hiding pay numbers was a power play by employers. Governments didn't care. Employees had no choice but to accept and acquiesce. But things have changed. Even if the grapevine in your organisation doesn't spill it or the regulations don't force you, market data is available for free on the internet and it is getting freakishly better (comp benchmarking companies should be at the edge of their seat). In a few years, market pay ranges and even company pay ranges will be known to most. You can deny it, but reality is what people believe and are willing to base decisions on. So hiding figures and numbers is a lost cause. And increasingly so, with time, misinformation will breed misinformation unless pay transparency becomes a core comp philosophy. Employers have a choice. They could see this as an opportunity and get behind the more innovative ways of thinking, talking and making decisions about pay with both current and prospective employees. The gains are better equity, clarity about gaps, realistic employee expectations and a better retention strategy than just playing the number game on CTC. There are challenges and risks, as with any new philosophy and can be mitigated. Or they could do nothing. And eventually, be forced to adapt and become a laggard. If you can't attract and retain talent with pay transparency, maybe you are bad at it and something needs to be done about it. Information asymmetry is not a great talent strategy. #futureofwork #talent #strategy

Reminder: Beginning November 1, 2023 All Employers in B.C. must include the expected pay or the expected pay range for a specific job opportunity that they advertise publicly. By November 1, 2023: the B.C. government and the six largest Crown corporations, which are BC Hydro, BC Housing, BC Lottery Corp., BC Transit, ICBC, and Work Safe BC will be required to begin posting annual pay transparency reports By November 1, 2024: all employers with 1,000 employees or more will be required to begin posting annual pay transparency reports By November 1, 2025: all employers with 300 employees or more will be required to begin posting annual pay transparency reports By November 1, 2026: all employers with 50 employees or more will be required to begin posting annual pay transparency reports

The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market. The report details the current month's total private employment change, and weekly job data from the previous month.

Last week, British Columbia put the Pay Transparency Act into action and it’s a big deal! 🙌 This is a huge step towards pay equity for everyone, which will have a notable impact on recruitment and retention. So, what does this change mean for employers and job seekers? 🤔 🔹 Employers are now required to publish pay ranges in job postings. 🔹 Employers can no longer ask about an applicant’s pay history. 🔹 Employers are prohibited from disciplining or retaliating against employees for discussing wages. If you’re an employer, there are a few things your organization should be thinking about right now. 🔹 First and foremost, identify if there are any pay gaps among employees with similar skill sets and job requirements. 🔹 If pay gaps exist, conduct a thorough assessment to determine whether there are justifiable reasons for the differences, such as seniority, specialized skills, location, and more. 🔹 If there are no valid reasons for pay gaps, it's time to devise strategies to rectify the situation and ensure equitable compensation. 🔹 Consider how you'll handle pay-related questions from your employees – do you have a standardized communication plan in place? 🔹 Lastly, establish a plan to reduce and continuously monitor pay gaps in the future, ensuring fairness and transparency in your organization. If you have any questions about navigating this new legislation, feel free to reach out to us! 🙋♀️ #paytransparency #payequity #equityinaction #vancouberjobs #bcjobs #vancouverrecruiters #retention Alison Cassidy Andrea Murphy Suzi P. Lauren Carroll Bhawna Bhatnagar Leslie Whittam

Top 3 Tips for Navigating the EU's Pay Transparency Directive 1. Understand Reporting Requirements: Employers must report on mean and median gender pay gaps, including variable compensation. Ensure your reporting covers all categories of workers and pay components. 2. Address Pay Gaps Proactively: Any 5% or more pay gaps must be remedied. Develop a strategy to identify and close these gaps to avoid penalties and ensure compliance. 3. Enhance Pay Transparency: Increase transparency for both job candidates and current employees. Provide clear information about pay levels and ensure your recruitment processes align with the directive’s requirements. For more detailed guidance, check out Trusaic's Senior Counsel, Maxfield Marquardt's article on WorldatWork, below. #PayTransparency #GenderPayGap #EURegulations #HRCompliance #CompensationStrategy #WorkplaceEquality #DEI #HumanResources #Trusaic

As per a recent survey, greater pay transparency is seen as a beneficial move by the majority (82%) of respondents for applicants and current employees. Interestingly, only 42% believed that it would have a positive impact on the financial effectiveness of the organization. However, the benefits of such transparency were found to slightly outweigh the potential costs. #PayTransparency #EmployeeBenefits #WorkplaceEquality

Good Morning Network! 𝗔𝘀 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟭𝘀𝘁, 𝗕𝗖 𝗵𝗮𝘃𝗲 𝘂𝗽𝗱𝗮𝘁𝗲𝗱 𝘁𝗵𝗲 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗼𝘂𝗻𝗱 𝗣𝗮𝘆 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗮𝗻𝗱 𝗔𝗱𝘃𝗲𝗿𝘁𝗶𝘀𝗲𝗺𝗲𝗻𝘁𝘀, 𝘀𝗼𝗺𝗲 𝗸𝗲𝘆 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗮𝗿𝗲 𝗯𝗲𝗹𝗼𝘄: ⭐All employers in B.C. must include the expected pay or the expected pay range for a specific job opportunity that they advertise publicly. Employers in B.C. cannot ask job applicants about what they have been paid at positions with other employers. ⭐Employers in B.C. cannot dismiss, suspend, demote, discipline or harass an employee who asks their employer about their pay, reveals their pay to another employee or someone applying to work with their employer, asks the employer about its pay transparency report, or gives information to the Director of Pay Transparency about their employer. ⭐Employers above a certain size will be required to complete and post pay transparency reports by November 1st of each year, showing the gaps in pay for certain groups. If you have any questions, or are wondering how does your Salary match with your competitors I would be happy to discuss with you - we will be releasing our Salary Guide soon, drop me an email to sign up to receive a copy: natalie.kelly@hays.com https://lnkd.in/ddpnE-s7