More North American organizations plan to disclose pay information, survey finds
ARLINGTON, Va., Sept. 14, 2022 (GLOBE NEWSWIRE) -- In light of the increased legislation on pay transparency, the number of North American organizations that disclose pay rate and range information to prospective employees is expected to surge across the U.S., even in places without requirements. This, according to a new pulse survey by leading global advisory, broking and solutions company WTW (NASDAQ: WTW).
The 2022 Pay Clarity Survey found that
Interestingly, some organizations that currently disclose pay rates are seeing more questions from current (
“We expect the recent wave of pay transparency legislation to continue,” said Mariann Madden, North America Fair Pay co-lead, WTW. “Regulatory requirements are only one factor in the expected increase in disclosures and communication about pay. Job seekers and current employees want to know and understand that they are treated fairly and are provided with equal opportunities to thrive and grow within the organization.”
Still, some companies are holding back on communicating pay information. About three in 10 (
The survey also found that most organizations plan to provide a narrative on their approach to managing pay equity. One-third of North American organizations (
“We’re seeing a clear trend among employers around the globe publicly committing to fair pay. In North America, companies are beginning to disclose their adjusted pay gaps, while in Europe more organizations are sharing their fair pay ambitions as well as their plans to monitor, track and communicate progress toward their commitments. We expect that level of transparency will likely become the norm as external stakeholders demand more clarity and visibility into companies’ pay management practices,” concluded Lindsay Wiggins, North America Fair Pay co-lead, WTW.
About the survey
WTW’s 2022 Pay Clarity Survey, North America was conducted between June 27 and July 8, 2022. In North America, a total of 388 respondents completed the survey.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
Media contact:
Ed Emerman: +1 609 240 2766
eemerman@eaglepr.com