Employers worry pay transparency will shift balance of power away from bosses, but some experts think it will make work better. Read on.
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Some companies — including Amazon.com Inc., American Express Co. and Macy’s Inc. — are technically complying with New York legislation, but have been criticized for posting salary ranges that are too broad. However, Zhao adds that “by and large, are relatively narrow.” If workers can’t get raises from their current employer, it is possible they will look elsewhere. According to a report by Theta Global Advisors, an accounting consultancy, 29 per cent of workers say they are actively looking for another job with higher pay. One survey found that 68 per cent of workers would move to an employer with better salary transparency, even if their own pay remained the same.
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