Talking About Financial Matters That Affect You and Your Organization
Think you have an equitable workforce? Transparently not…
Aug 10th, 2018
Now that the majority of Bill 148 has been enacted and rolled out, it’s time to look forward at what’s next for Ontario. Bill 3 is one that has passed it’s third reading and will be enacted Jan 1, 2019.
Along with the trend of “full transparency”, this bill will increase the exposure of pay gaps within the Canadian economy. Pay will be transparent through the generation of reports of an organization’s pay, which will be submitted to the Ministry of Labour and will also be required to be published and made available to the public.
Now, what would “full transparency” really mean for employers?
• Publishing pay rates or scales in job ads
• Prohibiting reprisal against employees for discussing pay
• Prohibiting employers from inquiring into job applicants’ previous compensation
Who will this effect?
• Employers with 250+ employees will need to submit their first pay transparency report no later than May 15 2020
• Employers with 100-250 employees will need to submit their first pay transparency report no later than May 15 2021
Hand-in-hand with the Human Right’s Commission’s mission of morphing into a nation of equality, this Act will put the gaps of compensation to centre stage, increasing pressure on employers to start making their workplaces more equal.
If your organization is wanting to become more equal but don’t know where to start, contact Selectpath HR Management today for more information.
To check out the draft of Bill 3, see: https://www.ola.org/en/legislative-business/bills/parliament-41/session-3/bill-3