Will 2023 be the year of pay transparency?

Will 2023 be the year of pay transparency?

This year marks the 60th anniversary of the Equal Pay Act, which is fitting considering that employment experts?predict?2023 will be big for?pay transparency.

Starting this week, job postings of California-based companies with at least 15 employees must disclose salary ranges, according to new statewide rules. New York City, Colorado, Washington, and Rhode Island have their own rules in place. Washington requires companies to disclose benefits along with pay ranges.?Europe, too, is redoubling efforts to enforce more equitable pay.

Why the focus on transparency? Studies show it can help narrow the?gender wage gap. The National Women’s Law Center notes a “robust movement to close gender wage gaps has been sweeping across the country.”

Companies benefit, too, with more trusting work environments, better employee engagement, and?higher productivity, according to?research.

It could help curb the so-called Great Migration by making workers?less likely?to quit. Whether or not someone feels they’re paid fairly is a?key predictor?of employee satisfaction.

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Everyone wants to retire early

Along with pay transparency, benefits offered are another major factor that influences employee satisfaction. One of the most in-demand benefits among top young tech talent is?401(k) matching, which can be key to an?early retirement?— something more than?half of tech workers?want.

See our list:?5 Tech Companies Hiring Now That Offer a 401(k) Match

Unlimited demand for unlimited PTO

Nearly?80%?of employees seek better work-life balance. The top way to achieve that, according to many, is time away from work. So it’s no surprise that unlimited?paid time off?(also known as “PTO”) is one of the most sought-after perks for today’s tech talent.

With freedom and flexibility in how they schedule work and PTO, employees can?avoid burnout. They also report feeling more?trusted?and?valued?in companies that offer flexible PTO.

See our list:?Take All The Time You Need: 5 Top Tech Companies With Unlimited PTO Hiring Now

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Startups offer financial aid

Millions of Americans are feeling the impacts of?soaring inflation. Often, they’re facing other economic crosswinds like mounting?student debt?and?poor credit. Startups are tackling these issues head-on, helping people gain access to credit and affordable education, pay down medical bills, and more.

See our list:?Life Is Expensive, These Startups Are Helping (and Hiring)

Startups in the news

• New York City-based?Caden, a personal data company, raised a $6M seed round led by Streamlined Ventures. The company aims to empower consumers to take control of their personal data and profit from it. Caden’s mobile app allows users to pull in data about their activities and then opt to monetize their data.
• San Francisco-based?Poly, a web-first generative AI company, raised a $4M seed round led by Felicis, Bloomberg Beta, and NextView Ventures. Poly is building generative AI tools that allow designers to create customizable HD design assets such as textures, illustrations, icons, sound effects, and more.
• Palo Alto, Calif.-based?Chaos Genius, a provider of a DataOps observability platform, raised a $3.3M seed round led by Elevation Capital. The company offers visibility and optimization tools for improving data structure efficiency that receive automated recommendations to optimize workloads, spot inefficient queries, and improve query performance.
• Vilnius, Lithuania-based?Watalook, a beautytech startup, raised a $3M seed round led by byFounders and Practica Capital. The company provides a booking platform for customers to discover and book beauty professionals.
• Bangalore, India-based?Samaaro, an event marketing SaaS platform, raised an undisclosed seed round led by SucSEED Indovation Fund. The platform enables B2B marketers and event professionals to create event experiences, customer engagement, and increase ROI through event marketing.

? Startups hiring now

• Convex: Serverless Cloud Operating System Apply now
• Zoox: We are building a new kind of transportation Apply now
• Metatheory: A technology-driven entertainment company building Web3 games Apply now