Pay transparency refers to an employer's openness about compensation structures, including salary ranges for positions, bonus criteria and the company's overall approach to pay. It does not require employees to disclose their individual earnings to colleagues unless they choose to. Instead, it is designed to promote fairness and consistency in compensation.
Pay transparency has been getting a lot of attention. Still, many are unclear about what pay transparency actually means, how far it goes or what the results of pay transparency legislation will be.