November 1st marked the first day New York City employers had to disclose salary information in job ads. It won’t be the last – California’s law kicks in for January. The New York law requires pay bands to be posted, and it’s for companies with more than four employees. There’s no checking – so it’s in good faith.
I’ve covered salary transparency before too. A new survey discovered that only 15% of Gen X discuss salaries, compared to 37% of Gen Z.
In case you’re wondering, the job market is still hot. Axios looked at the number of job openings – up in September, and layoffs edged down. The lowest level on record.
And in another interesting option, Ford recently updated one of its “Career Transition” policies to allow underperforming workers who have been with the company for eight+ years to choose to leave and receive a severance package or go through with a performance enhancement plan and risk losing the package, WSJ first reported. There’s a similar program in Meta.
With all the coverage of labor shortages, understanding the competitive landscape for talent is a required skill, and frankly, the days of hidden pay rates are coming to an end. You can be ahead of that curve, or you can lag. Fighting it feels like a lost cause. In a world of work-from-anywhere, businesses are competing with NYC and Cali for those employees… who can see what they get paid.
I wanted to highlight that Career transition option as it seemed like a very human way of handling mismatched employees—one more arrow in the quiver.