Obama Aims To Close The Wage Gap With A New Proposal For Salary Transparency
Sarah Moore was quoted in Fast Company on February 1, 2016. The article “Obama Aims To Close The Wage Gap With A New Proposal For Salary Transparency,” discussed President Obama’s recent proposal aimed at closing the gender wage gap by requiring companies with 100 or more employees to report their staff's pay broken down by race, gender, and ethnicity to the Equal Employment Opportunity Commission (EEOC).
Sarah was quoted on her take of the proposal.
"The EEOC proposal is the next nail in the coffin for salary secrecy," said Sarah, in a statement.
Salary transparency for executives is also par for the course under certain SEC requirements, according to Sarah. Fast Company has reported on the gulf between CEO and staff pay at some S&P 500 companies. "Federal and state laws protecting employee compensation discussions are being enforced with greater regularity," she stated, noting that workers can also easily pass pay information to others using email or apps, and can see aggregated salary data on platforms such as PayScale.
Now is the time for employers to act, too, Sarah added. "With pay data due in September, 2017, under the to-be-revised EEO-1 form, there is limited time for companies to analyze current pay systems, identify and address actual or perceived inequities, and implement a pay transparency plan that both establishes the needed line of communication with employees and minimizes operational interruption."
To read the full article, please visit Fast Company.