Countdown to EU’s New Law on Pay Transparency: Multinationals Must Move Faster

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Countdown to EU’s New Law on Pay Transparency: Multinationals Must Move Faster

21 June 2024 / Report

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Wage Impact: The law’s effect on wages is unpredictable. Wages may increase as companies eliminate pay gaps, however transparency on pay ranges could raise the expectations of employees and job candidates. As companies become more cautious about pay disparities between employee groups, the value of pay differentials as a tool for talent recruitment and retention is likely to be reduced. Chief Human Resource Officers (CHROs) may need to revise their pay structure based on reliable data and fair and objective criteria, and communicate this program effectively to internal and external stakeholders.
Impact on employees: embedding pay transparency into people processes and regular gender pay gap reporting may contribute to a more inclusive culture, but this depends on clear communication about pay policy and how to interpret reporting data. Survey respondents expect higher quality discussions between managers and workers regarding

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