How NYC’s Salary Transparency Law Affects non-NYC Employers
On November 1st, NYC’s Salary Transparency Law took effect, requiring companies with 4 or more employees to post a “reasonable” salary range on all job postings – both external (Indeed, Monster, etc.) and internal (intranet, HR communications, etc.). As confusing as the rules and details have been for NYC employers, equally confusing is how this new law affects non-NYC employers.
If you are a Long Island employer with employees in the 5-boroughs of NYC, working in an office, remotely or hybrid, this law affects you. If you post a job opening in NYC for a Long Island position, again this law affects you. And with a similar bill for NY state-wide implementation on the governor’s desk pending signature, it’s a safe bet to avoid fines (up to $250,000!) and put a salary range on all job postings going forward.
Alternatively, working with a recruiter helps employers buy time in coming into compliance with this new law. While business owners and/or HR departments need time to perform critical market research to determine salary ranges that won’t discourage candidates or anger existing employees, recruiters provide that time and relief. Recruiters often interact more directly with candidates, pull from groups of previously sourced candidates, and do so without company specific job postings, or your company name listed. This also eliminates the pressure of existing employees’ knowing the salary range for new hires, which can jeopardize their employee retention goals, while simultaneously scrambling to sort out the details of this new law.
If you’d like to learn more about SCG Recruiting, discuss your hiring plans, or better understand how the NYC Salary Transparency law affects you, we’d love to chat with you. Contact us at your convenience.
Good luck, and Happy Hunting!