What You Should Know About Pay Transparency – AmericanExpress.com

Excerpt:

Crystal Stranger, president of tax firm 1st Tax, sees a major strategic benefit to the call for big businesses to be more transparent. “If they are listing how much their pay scales are for employees with varying levels of seniority, it becomes easier to determine pay scales and raise schedules,” Stranger explains. “This is really important when creating a business plan because it can be tough to determine total costs of employment, which influences both the cash flow statement and the burn rate, especially as a company grows and needs higher value talent. Without having a clear idea of these numbers, it’s tough to know how much you need to borrow or raise to make your business a success.”

Please view full article by Anthonia Akitunde here: https://www.americanexpress.com/us/small-business/openforum/articles/what-you-should-know-about-pay-transparency/