Yesterday, the EEOC announced that it had finalized a regulation that will increase disclosure requirements regarding employee compensation for thousands of businesses. The new rule, which we’ve blogged about previously, requires all businesses with 100 or more workers to submit pay data by gender, race and ethnicity on their EEO-1 forms. Specifically, employers will now need to provide:
- Summary pay data: The total number of full and part-time employees employers had during that year in each of 12 pay bands listed for each EEO-1 job category; Employers would not need to report individual pay or salaries.
- Aggregate hours worked data: The number of hours worked that year by all the employees accounted for in each pay band.
The new rule is expected to cover 60,000 employers and 63 million employees. The first deadline for affected employers to file their new EEO-1 forms is March 31, 2018. We’ll be covering this and other equal pay issues in greater detail in the weeks ahead – so stay tuned.