The New Pay Transparency, Plunging Job Openings And ‘Acting Your Wage’

Here is the published version of this week’s Forbes Careers newsletter, which brings the latest news, commentary and ideas about the workplace, leadership and the future of work straight to your inbox every Wednesday. Click here to get on the newsletter list ! L ast week, California Gov. Gavin Newsom (D) signed a new law in effect requiring California companies with 15 or more employees to post job salary ranges, starting Jan.

1 of next year. It was hardly a surprise: I wrote back in May about the bill after it was passed by the state senate, and the wide-ranging—even game-changing —implications it could have. Yes, it’s an effort to close the gender pay gap, as Forbes senior contributor Alonzo Martinez writes.

But as the sixth jurisdiction to pass similar legislation—and by far the largest—it could also be a tipping point that will prompt employers, even in places where it’s not required, to share the numbers. Microsoft said back in June that it would do just that, and surveys have found that 62% of employers say they are either planning to or considering adding pay ranges to job postings beyond where it’s mandated. That has massive implications for job seekers, as many have noted this week.

Once the practice becomes more widespread, you’ll waste less time interviewing for jobs where the pay is below what you’d accept. You’ll stress less about when to bring up pay in the interview process—even if negotiation will still need to happen. And even if you’re not looking to find a new job, you’ll be able to look at open jobs at your company–again, once the practice becomes more widespread—and find out if you’re underpaid.

That, of course, is one of the biggest reasons many employers have resisted the practice, and what could cause others to jump through the hoops of having different rules in different states or cities, even if it would just be easier to adopt the practice nationwide. Others may keep an upper lid on raises: One Harvard Business School researcher, the Los Angeles Times reported , found that pay transparency rules (not associated with job postings) tended to close the gender pay gap but were tied to pay declines for non-unionized workers. Employers were more likely to say no to requests for raises if they knew the pay would eventually become public, the researcher explained, as they can argue they’ll have to do the same for other workers.

Whatever happens, the next few months will be interesting to watch when it comes to job postings. The law in New York City goes into effect Nov. 1—less than a month away.

Whether you’re searching for jobs or not, keep an eye out—and thanks as always to assistant editor Emmy Lucas for her help compiling this week’s newsletter. Alphabet’s Sundar Pichai, Accenture’s Julie Sweet and more than 30 others are bringing private-sector muscle to a very American (yet controversial) cause. Forbes Chief Content Officer Randall Lane has more here .

Here’s advice on how to raise difficult issues during meetings. Productivity plummets during uncertain times. Here are five ways to cope .

Here’s why you’re maybe not getting the job. Five tips to be an effective remote manager. Here’s how to create belonging among your hybrid-working teams.

‘Acting your wage’: Yes, it’s another trend taking over TikTok, just like “ quiet quitting . ” It describes when a worker’s performance and efforts match their rate of pay. The logic: if someone makes minimum wage, they should do the bare minimum at their job.

However, Forbes senior contributor Jack Kelly writes that acting your wage is hazardous to career growth over time. Is the talent gap slowing growth? With digital transformations at the top of company agendas, many leaders cite talent shortages, high recruiting costs and skills deficits as challenges to adopting new technologies. That’s according to KPMG’s “2022 Global Tech Report” of more than 2,200 executives.

Forbes CIO Network contributor Noah Barsky provides three tips for leaders to address this. Today’s economy: Job openings in August unexpectedly plummeted to the lowest level in more than a year, Forbes’ Jonathan Ponciano reports . One economist says this is the first official indicator to point “unambiguously” to a clear slowing in labor demand.

And with plunging job openings, hiked interest rates and uncertain economic times, a report from real estate broker Redfin found that American home buyers are getting 9% less space than last year as mortgage rates have spiked, Forbes’ Derek Saul reports . In the boardroom: The National Association of Corporate Directors recently released new guidelines to help corporate boards confront a turbulent economic climate. The NACD predicts a more robust role for corporate board governance and enterprise sustainability, which may lead to tension within management, writes Forbes senior contributor Michael Peregrine .

Stanford’s d. school created a 12-book series about the methods and mindsets behind creativity and design. This month, three more were released.

In Creative Hustle , Olatunde Sobomehin and Sam Seidel provide advice on launching your creative career. Scott Witthoft’s This Is a Prototype makes the case for prototyping and its benefits on successfully testing a new product or idea. And in You Need a Manifesto , the d.

school’s director of community, Charlotte Burgess-Auburn, emphasizes the importance of having your own personal manifesto to anchor you in your values and help navigate daily life. .