{"id":89654,"date":"2023-01-03T23:02:55","date_gmt":"2023-01-03T21:02:55","guid":{"rendered":"https:\/\/factorialhr.com\/blog\/?p=89654"},"modified":"2023-01-03T23:02:55","modified_gmt":"2023-01-03T21:02:55","slug":"nyc-pay-transparency-law","status":"publish","type":"post","link":"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/","title":{"rendered":"NYC pay transparency law: how employers can adapt"},"content":{"rendered":"<p><span style=\"font-weight: 400\">It\u2019s the start of a new year and the perfect opportunity to <\/span><b>prepare for a productive and compliant 2023<\/b><span style=\"font-weight: 400\">. This includes adapting your hiring and compensation strategies so that they are in line with all employment law developments. One such example, if you live in New York City, is the <\/span><b>NYC <\/b><a href=\"https:\/\/www.nyc.gov\/site\/cchr\/media\/pay-transparency.page\" target=\"_blank\" rel=\"noopener\"><b>pay transparency law<\/b><\/a><span style=\"font-weight: 400\"> which came into effect in November 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following in the footsteps of other states, including Colorado, California, and Washington, this new law aims to <\/span><b>provide job seekers with a range of protections against discrimination<\/b><span style=\"font-weight: 400\">. It is also an important step towards <\/span><b>ensuring pay equity for New Yorkers<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Today, we are going to share <\/span><b>everything you need to know about the NYC pay transparency law so that you can prepare your business for full compliance<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/factorialhr.com\/get-started\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-86534 \" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/11\/18144227\/bENG_Blog_banner_900x308_A_v1.0-300x103.png\" alt=\"14 day free trial\" width=\"841\" height=\"289\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/11\/18144227\/bENG_Blog_banner_900x308_A_v1.0-300x103.png 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/11\/18144227\/bENG_Blog_banner_900x308_A_v1.0-768x263.png 768w, https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/11\/18144227\/bENG_Blog_banner_900x308_A_v1.0.png 1350w\" sizes=\"(max-width: 841px) 100vw, 841px\" \/><\/a><\/p>\n<p><b><div class=\"js-toc toc\">\n<p class=\"js-toc-title toc__title\">Table of Contents<\/p>\n<nav id=\"fac_toc_nav\" class=\"js-toc-nav toc__nav\" aria-label=\"Table of Contents\"><ol class=\"toc__list toc__list--level-1\"><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-1\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#what-is-new-york-city\u2019s-pay-transparency-law\" title=\"What is New York City\u2019s pay transparency law?\u00a0\" data-target-id=\"what-is-new-york-city\u2019s-pay-transparency-law\">What is New York City\u2019s pay transparency law?\u00a0<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-2\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#what-nyc-pay-transparency-law-means-for-employers\" title=\"What NYC pay transparency law means for employers\u00a0\" data-target-id=\"what-nyc-pay-transparency-law-means-for-employers\">What NYC pay transparency law means for employers\u00a0<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-3\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#how-to-adapt-to-the-nyc-pay-transparency-law\" title=\"How to adapt to the NYC pay transparency law\u00a0\" data-target-id=\"how-to-adapt-to-the-nyc-pay-transparency-law\">How to adapt to the NYC pay transparency law\u00a0<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-4\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#nyc-pay-transparency-law-what-to-avoid\" title=\"NYC pay transparency law: what to avoid\u00a0\" data-target-id=\"nyc-pay-transparency-law-what-to-avoid\">NYC pay transparency law: what to avoid\u00a0<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-5\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#similar-legislation-in-new-york-state\" title=\"Similar legislation in New York State\u00a0\" data-target-id=\"similar-legislation-in-new-york-state\">Similar legislation in New York State\u00a0<\/a><\/li><li class=\"toc-heading-level-2\"><a class=\"toc__link toc-link-heading-6\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/#examples-of-pay-transparency\" title=\"Examples of pay transparency\u00a0\" data-target-id=\"examples-of-pay-transparency\">Examples of pay transparency\u00a0<\/a><\/li><\/ol><\/nav><\/div><\/b><\/p>\n<h2><b>What is New York City\u2019s pay transparency law?<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Pay transparency is a concept that has been growing in popularity over recent years, especially since the wake of the #MeToo movement which, among other issues, put the spotlight on <\/span><b>gender equality and equal pay for all<\/b><span style=\"font-weight: 400\">. The COVID-19 pandemic and the \u201cgreat resignation\u201d have added more fuel to this debate. As a result, <\/span><b>society is demanding fairer hiring practices and more transparency in business<\/b><span style=\"font-weight: 400\">. And this has led to the creation of a number of <\/span><a href=\"https:\/\/factorialhr.com\/blog\/usa-federal-employment-laws\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">US federal employment laws<\/span><\/a><span style=\"font-weight: 400\">, including those related to salary transparency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <\/span><b>NYC pay transparency law<\/b><span style=\"font-weight: 400\"> is one such federal law. Launched in November 2022, the law requires employers to <\/span><b>disclose minimum and maximum pay ranges in good faith for all on-location and remote jobs, promotions and transfer opportunities based in New York City<\/b><span style=\"font-weight: 400\">. Failure to comply with this law can result in penalties of up to $250,000 per violation.<\/span><\/p>\n<p><b>New York City Council<\/b><span style=\"font-weight: 400\"> isn\u2019t the first jurisdiction to introduce laws that promote salary transparency. In fact, pay transparency laws are being enacted all around the country. For example, California has just this week enacted its own law related to pay scale disclosure. <\/span><a href=\"https:\/\/factorialhr.com\/blog\/california-pay-transparency-law\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">California\u2019s new pay transparency law<\/span><\/a><span style=\"font-weight: 400\"> has one primary objective: to promote <\/span><b>equal and transparent pay for all<\/b><span style=\"font-weight: 400\">.\u00a0\u00a0<\/span><\/p>\n<h2><b>What NYC pay transparency law means for employers<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">So, what exactly does the NYC pay transparency law mean for employers in the Big Apple? What salary transparency obligations do you need to be aware of?<\/span><\/p>\n<p><span style=\"font-weight: 400\">Let\u2019s break down the basics before we discuss how you can adapt your business to ensure compliance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">New York City\u2019s pay transparency law is an amendment to the <\/span><b>New York City Human Rights Law<\/b><span style=\"font-weight: 400\">. Originally planned for May last year, the amendment was eventually enacted on November 1, 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Essentially, according to the NYC pay transparency law, <\/span><b>companies with four or more employees that have at least one employee working in New York City have an obligation to disclose minimum and maximum salary ranges for all advertised employment positions<\/b><span style=\"font-weight: 400\">. This includes job ads for remote and in-house employees, hourly and salaried positions, independent contractors, and interns. The requirement also applies to internal promotions and transfer opportunities. Whatever position you are looking to fill, you need to <\/span><b>clearly detail the salary range that you will offer<\/b><span style=\"font-weight: 400\">. This published salary range must be based on a \u201c<\/span><b>good faith belief<\/b><span style=\"font-weight: 400\">\u201d of what you will pay successful candidates.\u00a0<\/span><\/p>\n<h2><b>How to adapt to the NYC pay transparency law<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Pay transparency is important for a number of reasons. It helps to <\/span><b>promote fairness and reduce the gender pay gap<\/b><span style=\"font-weight: 400\">. It also <\/span><b>protects workers from discrimination<\/b><span style=\"font-weight: 400\">, especially those from historically underrepresented minority groups.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Let\u2019s take a look at a few strategies you can implement to promote pay transparency. That way, not only will you <\/span><b>stay compliant and avoid potentially hefty penalties<\/b><span style=\"font-weight: 400\">, but you can also <\/span><b>build a reputation as an equitable and transparent employer<\/b><span style=\"font-weight: 400\">. And this will help you stand out from the competition and <\/span><b>attract top talent to your business.\u00a0<\/b><\/p>\n<h3><b>Develop a fair compensation system<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">The first step in creating a culture of pay transparency involves developing a fair compensation system.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">There are a few ways to do this.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Firstly, <\/span><b>make sure you have a clearly defined compensation plan that defines guidelines for salary ranges and how salaries should be negotiated during the hiring process<\/b><span style=\"font-weight: 400\">. This means that no single manager should have unilateral authority over salaries, bonuses, or other forms of compensation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It\u2019s also important to <\/span><b>make sure that all employees performing the same duties are offered the same salary<\/b><span style=\"font-weight: 400\">, in line with <\/span><a href=\"https:\/\/factorialhr.com\/blog\/wage-and-hour-laws\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">wage and hour laws<\/span><\/a><span style=\"font-weight: 400\">, and <\/span><b>all bonuses should be calculated according to clear performance benchmarks<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">All this will help you avoid potential issues with <\/span><b>unjustified pay gaps<\/b><span style=\"font-weight: 400\">, such as overrepresented groups being paid more than minority groups regardless of experience or qualifications.\u00a0<\/span><\/p>\n<h3><b>Make a career path plan<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Once you\u2019ve developed a fair compensation plan, the next step is rolling it out to your employees and designing <\/span><b>clear career paths for all staff<\/b><span style=\"font-weight: 400\">. This will ensure that all employees understand <\/span><b>why they are being paid the amount they receive, and what they need to work on before they can earn a higher salary<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, you could <\/span><b>set clear training goals so that employees know which skills they need to develop before they are entitled to a pay rise<\/b><span style=\"font-weight: 400\">. This helps you encourage your employees to take responsibility for their own professional development. And that way, they will understand <\/span><b>how their development influences their salaries<\/b><span style=\"font-weight: 400\"> and why some of their colleagues might be, justifiably, receiving a higher salary. As a result, you will reduce potential claims of discrimination and avoid related claims of pay transparency violations.\u00a0<\/span><\/p>\n<h3><b>Conduct pay audits<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Another valuable tool for ensuring your salaries are fair and balanced is <\/span><b>conducting regular internal pay audits<\/b><span style=\"font-weight: 400\">. It\u2019s a good idea to include these audits in your <\/span><a href=\"https:\/\/factorialhr.com\/blog\/hr-compliance-calendar-2023\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">HR compliance calendar for 2023<\/span><\/a><span style=\"font-weight: 400\">. This will help you <\/span><b>set reasonable salary ranges that ensure pay equity and consistency<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Review all the positions in your company. Look at how much you pay according to factors such as experience, seniority, and qualifications. Are you paying employees performing similar duties equal salaries, regardless of gender or race? Which criteria do employees need to meet in order to qualify for a promotion or internal transfer? In the event of discrepancies, are there legitimate reasons for paying higher or lower salaries to certain employees? <\/span><b>The more transparent your process for determining salaries is, the easier it will be to be publicly transparent about the salary ranges you offer candidates<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h3><b>Identify your pay gap<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Part of your pay audit should involve conducting checks to help you i<\/span><b>dentify if there are any pay gaps in your salary structure<\/b><span style=\"font-weight: 400\">. This is where you pay different salaries to employees with the same skills and experience. <\/span><b>Although most companies these days promote the idea that they support gender and racial equality in the workplace, there still continues to be an issue with pay gaps in reality<\/b><span style=\"font-weight: 400\">. For example, on average, <\/span><a href=\"https:\/\/www.census.gov\/library\/stories\/2022\/01\/gender-pay-gap-widens-as-women-age.html#:~:text=Although%20the%20gender%20pay%20gap,the%20Bureau%20of%20Labor%20Statistics.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">women in the U.S. make 82 cents on the dollar compared to men<\/span><\/a><span style=\"font-weight: 400\">, and Latinas are paid 54 cents for every dollar paid to white, non-Hispanic men.\u00a0 \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Break down your salaries according to different demographics, including age, gender, and race. Are you paying certain groups consistently less than others? Could there be an issue with conscious or unconscious bias or discrimination in your hiring and salary negotiation practices? If you\u2019re in any doubt here, then it\u2019s a good idea to get legal advice. <\/span><b>It\u2019s better to identify and address potential pay gap issues rather than face claims of unfair or untransparent salary practices<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<h3><b>Eliminate bias in your compensation strategy<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Finally, <\/span><b>make sure you do everything you can to eliminate potential bias or discrimination in your compensation plan and salary negotiation strategy<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The best way to do this is through training. Are your hiring managers aware of any potential unconscious biases during the recruitment and negotiation process? Do they understand the importance of offering equal pay for equal work? Are they aware of the guidelines for offering salaries in line with a candidate\u2019s level of skills and experience? When should they offer lower salaries? Can they justify offering higher salaries to certain candidates?\u00a0<\/span><\/p>\n<p><b>The right training will ensure that all your hiring managers understand how your compensation plan works and how applicant requests related to salary range data should be handled<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/factorialhr.com\/templates\/2023-hr-compliance-calendar\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-89091 \" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/12\/22152530\/freebie-image_hrcompliancecalendar-300x159.jpg\" alt=\"hr compliance calendar\" width=\"739\" height=\"392\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/12\/22152530\/freebie-image_hrcompliancecalendar-300x159.jpg 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2022\/12\/22152530\/freebie-image_hrcompliancecalendar.jpg 533w\" sizes=\"(max-width: 739px) 100vw, 739px\" \/><\/a><\/p>\n<h2><b>NYC pay transparency law: what to avoid<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As with all laws, there will always be businesses that try to bend the rules to their own advantage. This is especially true for those who are not willing to be transparent about their compensation strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are a few <\/span><b>examples of things to avoid in order to ensure compliance with the NYC pay transparency law<\/b><span style=\"font-weight: 400\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The first loophole that some businesses have started using to their advantage <\/span><b>relates to the definition of \u201cgood faith\u201d<\/b><span style=\"font-weight: 400\">. When you publicly share a salary range for a position, <\/span><b>it should reflect the minimum and maximum amounts that you are willing to pay for the role, depending on qualifications and experience<\/b><span style=\"font-weight: 400\">. This means that you <\/span><b>shouldn\u2019t publish vastly broad ranges in an attempt to hide what you actually pay employees in certain positions<\/b><span style=\"font-weight: 400\">. Some companies have already received public backlash for this. For example, when the law first came out, Citibank posted job listings with pay ranges from $0 to $2 million. This range was meaningless and gave candidates no indication of what Citibank would actually pay a successful candidate.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Another tactic used by some companies to avoid disclosure is <\/span><b>reducing the number of job ads that they post<\/b><span style=\"font-weight: 400\">. This tactic was used by a lot of businesses in Colorado when the state released its own salary transparency law. As a result, <\/span><b>the state\u2019s labor department sent warnings to hundreds of employers and fined a number of businesses for violations<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<\/ul>\n<h2><b>Similar legislation in New York State\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The NYC pay transparency law applies to all businesses located or operating in New York City, and it is controlled by the <\/span><a href=\"https:\/\/www.nyc.gov\/site\/cchr\/about\/commissioners.page\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">New York City Commission on Human Rights<\/span><\/a><span style=\"font-weight: 400\"> (NYCCHR). A similar law is expected to come into effect later this year. This pay transparency law will apply to the entire state of New York.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This pay transparency legislation will contain <\/span><b>three additional requirements<\/b><span style=\"font-weight: 400\">:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A posting must include a job description if one exists;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A posting must include a general statement that compensation is based on commission, if applicable to the position; and\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Employers must keep and maintain records of compensation history for posted jobs, promotions and transfer opportunities.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400\">Moreover, other areas of New York State, including <\/span><b>Westchester County and Ithaca<\/b><span style=\"font-weight: 400\">, are adopting their own salary transparency laws. For example, Section 700.03 of the <\/span><b>Westchester County Human Rights Law<\/b><span style=\"font-weight: 400\"> was amended in 2022 to require salary transparency in covered job postings. And the pay transparency law in Ithaca has made it an <\/span><b>unlawful discriminatory practice for an employer to advertise a job, promotion, or transfer opportunity without stating the minimum and maximum hourly or salary compensation<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2><b>Examples of pay transparency<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Let\u2019s finish by taking a look at a few <\/span><b>examples of pay transparency<\/b><span style=\"font-weight: 400\"> that have helped well-known brands establish reputations for being fair and transparent employers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The following examples should help you understand <\/span><b>how complying with the NYC pay transparency law can help you boost your employer brand and attract and retain top talent<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h3><b>Whole Foods<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Whole Foods has been a big advocator of wage transparency since 1986. According to the company\u2019s CEO John Mackey, <\/span><b>employees have a right to know what everybody else in the business is earning<\/b><span style=\"font-weight: 400\">. That\u2019s why the company publishes the average pay of all its positions on its website.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mackey believes that <\/span><b>pay transparency motivates employees and gives them something to strive for<\/b><span style=\"font-weight: 400\">. The idea is that employees look at a colleague&#8217;s salary and think, \u201c<\/span><i><span style=\"font-weight: 400\">Wow, I had no idea that a coordinator could get paid that much. I want to be a coordinator<\/span><\/i><span style=\"font-weight: 400\">\u201d. And this creates a healthy sense of internal competition that encourages employees to better themselves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mackey also believes that <\/span><b>pay transparency is essential in correcting discrepancies between employees<\/b><span style=\"font-weight: 400\">. Plus, it\u2019s an effective strategy for helping employees understand why they are paid what they are paid. It establishes a direct relationship between an individual&#8217;s performance and their impact on the business. <\/span><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<h3><b>Starbucks\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Starbucks takes a slightly different, yet equally effective, approach to pay transparency. The coffee giant shares pay equity data with everyone and pay ranges with candidates when asked. And the company has been doing this for over a decade now. Long before it became a legal requirement in certain states.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Starbucks launched an initiative in order to study wage disparities among its employees. The aim was to close any existing gender and race pay gaps. It did this by following 3 core principles: <\/span><b>equal footing, transparency, and accountability<\/b><span style=\"font-weight: 400\">. For instance, <\/span><b>hiring managers never ask candidates about their salary history<\/b><span style=\"font-weight: 400\">. The company also <\/span><b>sets salary ranges before sourcing begins<\/b><span style=\"font-weight: 400\">. Plus, it <\/span><b>bases starting salaries on skills, abilities, and experience<\/b><span style=\"font-weight: 400\">. The company has furthered its commitment to pay transparency by publishing its pay equity progress annually.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As a result, the company now claims to have achieved <\/span><b>100% pay equity across its U.S. workforce<\/b><span style=\"font-weight: 400\">, with a pledge to achieve this in all company-operated markets worldwide.<\/span><\/p>\n<h3><b>Salesforce<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400\">The final example of a company that has benefitted from promoting pay transparency is Salesforce.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Marc Benioff, the CEO of Salesforce, has voiced his commitment to gender equality on numerous occasions. However, two of the company\u2019s SVPs (Leyla Seka and Cindy Robbins) were concerned that there was a gender pay gap. So, they <\/span><b>pledged to conduct a thorough pay gap analysis to determine if they were paying women the same as their male counterparts<\/b><span style=\"font-weight: 400\">. They were not.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As a result of this study, Benioff asked Seka and Robbins to <\/span><b>regularly monitor pay rates<\/b><span style=\"font-weight: 400\"> to make sure that women didn\u2019t fall behind again, and to make these findings publicly available. <\/span><b>By committing to pay transparency in this way, the company was able to close the gender pay gap. It also secured its reputation as a fair and equitable employer.<\/b><span style=\"font-weight: 400\"> And this is precisely what the NYC pay transparency law aims to do: <\/span><b>promote the open sharing of salary data with the aim of creating a fair system for all<\/b><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s the start of a new year and the perfect opportunity to prepare for a productive and compliant 2023. This includes adapting your hiring and compensation strategies so that they are in line with all employment law developments. One such example, if you live in New York City, is the NYC pay transparency law which<a href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/\" class=\"read-more\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":80,"featured_media":89655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146],"tags":[],"class_list":["post-89654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-hr"],"acf":{"topics":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NYC pay transparency law: how employers can adapt | Factorial<\/title>\n<meta name=\"description\" content=\"Employer&#039;s guide to the new NYC pay transparency law. What your obligations are and how you can develop a culture of pay transparency\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/factorialhr.com\/blog\/nyc-pay-transparency-law\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC pay transparency law: how employers can adapt\" \/>\n<meta property=\"og:description\" content=\"Employer&#039;s guide to the new NYC pay transparency law. 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