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More companies to report pay range data: WTW

September 21, 2022

The number of companies in that release pay rate and range data to prospective employees is expected to surge across the US, according to a report by WTW. The increase is expected even in places without specific requirements to do so.

A WTW survey found that 17% of firms are already disclosing pay range data in US locations where not required by state or local law. In addition, 62% of firms are planning or considering to disclose such data in the future.

The information will include data on hiring range and full salary range.

It’s not just legal requirements driving the release of pay range information, though the recent wave of such legislation is expected to continue, said Mariann Madden, North America fair pay co-lead, WTW.

“Regulatory requirements are only one factor in the expected increase in disclosures and communication about pay,” Madden said. “Job seekers and current employees want to know and understand that they are treated fairly and are provided with equal opportunities to thrive and grow within the organization.”

Not all companies, however, are releasing data. Thirty-one percent say their programs are not ready for that kind of transparency. In addition, 31% cite administrative complexity and 25% cite lack of clear job architecture as reasons they are holding back. Also, 46% cite possible employee reactions as a reason for not providing such data.

WTW’s survey included 388 respondents and took place between June 27 and July 8.