Under the new law, originally sponsored in the Senate by Senator Moriarty and Senator Shirley Turner, employers (with at least 10 employees) must disclose compensation, such as hourly wages and salaries, in job postings. Employers will also be required to make all promotional opportunities known to current employees prior to making a promotion decision.
“Job seekers should have a complete picture of salary and benefits before they apply for a position. Why make people jump through hoops, only to find out at the end that they’re not going to be paid what they think they deserve? This law will prove beneficial to job seekers as well as those looking to hire,” added Senator Moriarty.
Under the law, in job postings, employers would be required to provide a general description of hourly wage or salary, or a range of compensation, in addition to a general description of all benefits that would be offered to a hired applicant.
“Employment compensation is too often shrouded in mystery, enabling favoritism and discrimination,” said Senator Turner. “Requiring transparency is the best way to shine a light on these practices. It may also prevent potentially unlawful practices such as short-changing new hires based on race, gender, immigration status or some other protected class.”
Eight States, including New York and Connecticut, have laws requiring salary range transparency. Employers who fail to comply with the requirements of the bill would be subject to a civil penalty amounting to a fine not to exceed $300 for a first violation, and up to $600 for subsequent violations.
Moriarty, a prominent figure in the business community, has recently commended a new piece of legislation that mandates employer transparency on compensation and promotions. The legislation, which was recently passed in New Jersey, aims to address the issue of pay inequality and lack of diversity in the workplace.
Under the new law, employers are required to disclose information about the compensation and promotion practices within their organization. This includes providing data on the gender and racial breakdown of employees in different job categories, as well as information on the average pay and promotion rates for each group.
Moriarty believes that this new legislation is a significant step towards achieving greater equality in the workplace. By requiring employers to be transparent about their compensation and promotion practices, the law will help to identify and address any disparities that may exist within an organization.
In addition to promoting equality, Moriarty also sees the new legislation as a way to improve overall employee satisfaction and retention. By providing employees with more information about how compensation and promotions are determined, employers can help to build trust and loyalty among their workforce.
Overall, Moriarty is optimistic about the impact that this new legislation will have on the business community in New Jersey. By promoting transparency and accountability in compensation and promotion practices, the law has the potential to create a more equitable and inclusive workplace for all employees.
