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The amendments to the law will take effect January 1, 2024. In 2019, Colorado became the first jurisdiction to pass a law requiring employers to provide pay range or rate information in job postings, starting a trend which many other jurisdictions have since followed.
Starting January 1, 2021, Colorado's Equal Pay for Equal Work Act (SB 19-085) will prohibit all employers from discriminating because of sex (including gender identity) ? alone or with another protected status ? by paying less for substantially similar work in terms of skill, effort and responsibility.
Compensation management involves managing, analysing, and determining the salary, benefits, and incentives paid to the employees. Compensation management plays a crucial role in attracting and retaining top talent. It includes monetary as well as non-monetary benefits.
What are my rights? Under Executive Order 11246, you have the right to inquire about, discuss, or disclose your own pay or that of other employees or applicants. You cannot be disciplined, harassed, demoted, terminated, denied employment, or otherwise discriminated against because you exercised this right.
July 1, 2023, in addition to a 5% ATB raise, the new pay scales for Step Raises took effect. Same time next year, state workers will be raised to the appropriate Step based on years in job series, in addition to a 3% ATB raise.
Colorado's equal pay statute prohibits pay discrimination based on sex or sex plus another protected status and allows employers to use only a limited set of factors to explain wage disparities. Effective January 1, 2024, employees may recover back pay for violations going back six years, rather than three.
Meanwhile, in the Aloha State, effective January 1, 2024, Hawaii's new pay transparency law (signed in July 2023) will require employers with 50 or more employees to include the hourly pay rate or salary range in job listings.
A compensation plan is a payment package designed to attract and retain employees. A basic compensation package consists solely of a salary or wages. A more comprehensive compensation package could include additional benefits such as bonuses, perks, commission, health insurance, or retirement investments.