For the most part, salary transparency laws have become a beacon of hope for pay equity. But for small businesses, it’s a double-edged sword that may stunt the retention and recruitment of talented workers.
There are currently 17 states in the U.S. that have laws around pay transparency, according to compensation management platform Pequity. And although more visibility around wages was and continues to be a much needed change, 16% of small businesses are already being impacted by the new legislation, according to recent findings from executive coaching organization Vistage, and it’s presenting a challenge.
