Pay transparency in job postings leads to more and higher-quality applicants, according to SHRM.
Several states have enacted, or are considering enacting, pay transparency laws, and SHRM notes that “many [employers] have raised concerns that listing pay ranges may lead to negative outcomes such as candidates not taking the total compensation into consideration.” But the data show exactly the opposite.
- 70% of organizations who list pay ranges in job postings say it has increased the number of applicants
- 66% say it has increased the quality of applicants
- 65% say it makes them more competitive in attracting top talent
On the applicant side, 82% of U.S. workers are more likely to consider applying for a job if the pay range is listed and 73% are more likely to trust organizations that provide pay ranges than ones that do not.