"Cross-firm #payTransparency is a powerful mechanism for reducing wage inequality and improving labor market efficiency. …. By providing workers and employers with comprehensive salary information, we enable more informed job searches, fairer wage negotiations, and increased market competition. Evidence shows such transparency can directly benefit workers—particularly women and low-wage employees—by raising awareness of pay disparities, empowering individuals to seek better compensation, and encouraging employers to align their wages more equitably with market standards. With pay transparency, applicants consider a more diverse set of opportunities, spanning a greater number of sectors and wider array of job titles. The empirical evidence also suggests information about market pay affects firms’ beliefs and behavior, reducing inequality in pay within a position title, raising wages among low-skilled jobs, and improving efficiency through longer-lasting job matches."
https://www.linkedin.com/posts/thestepstonegroup_workbeat-salaryinsights-salarytrends-activity-7285196587633397760-insS?utm_source=share&utm_medium=member_desktop
#wages #LaborMarkets