Employers with 100 or more employees take note: a major new reporting requirement may be coming your way next year.
On January 29, 2016, President Obama announced that beginning in September 2017, employers with 100 or more employees must report the earnings and hours worked for all of their employees. That’s right. Employers must disclose compensation information for all employees, including executives – which many employers consider to be highly confidential – to the EEOC.
Employers will be required to disclose this compensation data as a new category on the EEO-1 report, which employers already provide to the federal government and which contains workforce data sorted by race, ethnicity, gender, and job category. Specifically, the “revised EEO-1 will collect aggregate W-2 data in 12 pay bands for the 10 EEO-1 job categories” already used. The EEOC noted that it does not intend to require employers to track hours worked by salaried employees, but that it is seeking input on the issue.Continue Reading EEOC Promotes Gender Equality by Imposing Another Burden on Employers