Efficient & Equitable US Talent Acquisition in the coming age of undisclosed compensation under Intro.1253-A.

The “war for talent” is a well-trodden path of discussion and is based on some underlying economic principals such as supply and demand, with human capital available at a known price. That is to say, organizations who wish to secure talent and hire someone would make a financial offer based on (and assumed to be better than) the existing “price” of that person’s skills e.g. their current compensation package.

For many this has been assumed to be an efficient marketplace; supply and demand drive the compensation levels, and candidate price transparency allows companies to make competitive offers based on current compensation (“price”).

But what if that price actually wasn’t fair to begin with? And what if from here on in, we no longer had “price transparency” among the candidate pool? As of 31st October 2017, this will be the new reality as New York City implements Introduction Number 1253-A (“Intro.1253-A”); new legislation that prohibits prospective employers from inquiring about candidates’ current compensation and salary history.

Within the context of this paper we look to summarize the key players, impact(s) and possible side-effects of the legislation, for both the global HR community and anyone with a vested interest in hiring within New York.

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