New Pay Transparency Law Coming for Minnesota Employers
Minnesota has become the latest state to require a salary range in job postings to boost pay transparency. On May 17, 2024, Governor Tim Walz signed into law the Omnibus Labor and Industry Policy Bill. The bill goes into effect January 1, 2025.
What are the Requirements?
In Article 7, under the Miscellaneous Labor Policy, it states that employers with 30 or more employees must post salary range of the minimum and maximum salary, or a “fixed pay rate” if the employer does not wish to set a range. The “salary range” must meet the minimum and maximum annual salary or hourly range of compensation, based on the employer’s good faith estimate, at the time of posting the job. The “fixed pay-rate” may be a set hourly rate, or annual salary figure. Additionally, each job posting will now be required to include a general description of all benefits and other compensation (including health & retirement), for the employee.
What Types of Businesses Will Have to Start Posting Pay?
The Omnibus Labor and Industry Policy Bill applies to employers with 30 or more employees in these types of businesses:
- Individual
- Corporation
- Partnership
- Association
- Nonprofit Organization
- Group of Persons
- State
- County
- Town
- City
- School District
- Other Governmental Subdivision
Where Do You Get Help?
myHRcounsel® makes your life easy by drafting all the documents you need to be compliant with the ever-changing employment laws in all 50 states, including Minnesota. Our ASK HR subscription gives you unlimited access to employment attorneys for questions on pay transparency and all other HR issues that come up every day, and the others just waiting in the wings. Contact us at info@myhrcounsel.com for more information and a demo of our services.