Everything Small Businesses , Need to Know About New , Pay Transparency Laws.<br />'The Independent' reports that eight states in <br />America have instituted pay transparency laws, <br />and several others are considering similar legislation.<br />While these laws mainly take aim <br />at large corporations, here are some <br />things small businesses should know.<br />1. Which businesses must comply, While it varies between states and localities, <br />states that must comply with the new <br />laws must have a certain number of employees.<br />In Washington state, any business with <br />over 15 employees must disclose information <br />regarding pay in all job postings. .<br />In New York, the magic number <br />is four or more employees.<br />2. What are the penalties?, Currently, monetary penalties are <br />assessed per violation and can range <br />from hundreds to thousands of dollars.<br />3. How to comply with the new laws, 'The Independent' reports that companies are required to <br />post a "good faith" salary range for the role in the job posting.<br />According to Marina Vitek, a mentor at SCORE, for companies <br />that don't post job openings, the obligation to provide pay <br />information is upon request by a candidate or employee.<br />'The Independent' points out that taking inventory of internal <br />pay structures is crucial before posting pay information <br />to avoid potential conflict with current employees.<br />'The Independent' points out that taking inventory of internal <br />pay structures is crucial before posting pay information <br />to avoid potential conflict with current employees.<br />Jim Emanuel, a human resources knowledge adviser at the <br />Society for Human Resource Management, recommends <br />keeping up-to-date information to reference prior to hiring.
