On January 1st of this year, 17 states issued new or updated existing pay transparency laws. The purpose of the laws is to narrow the pay gap between individuals of different genders and races by making salary and wage information more available and transparent. Compliance with these laws is more challenging in 2023 as both the reporting requirements and the number of jurisdictions mandating them have expanded, and this trend is likely to continue.
There are some technologies that can help with pay transparency compliance by allowing employers to track key data related to contingent labor. Talient for example, along with housing all job requisition data, captures pay data per candidate and worker, allowing the newly required information to be easily exported at the touch of a button. Talient can also help track requisition management and talent onboarding via a streamlined and intuitive interface.
In the past, these types of talent platform technologies were only available to large enterprises. A solution like Talient is now available to a much wider range of contingent labor programs from large to small. For more details, view the demo of the application in action, and click here for additional details on features.
At first glance, compliance with the new pay transparency laws may seem straightforward, but for companies that utilize a contingent workforce, the employer responsibility may be much greater than it appears on the surface. For example, some employers may utilize several or many contingent agencies to support the hiring needs of their overall workforce. Such employers will need to work with each of those agencies to account for every last contingent worker, as the burden of reporting has been placed on employers rather than staffing agencies. Leveraging technology such as Talient can help employers of any size comply with pay transparency laws.