In recent years, the healthcare industry has seen a shift towards greater pay transparency and accountability, driven in part by new laws aimed at ensuring fair compensation for all employees. These new state laws require employers to list salary ranges for all advertised positions and to make this information available to job applicants.
As travel nursing and allied healthcare professionals, it's essential to understand how these changes affect you and your career opportunities.
Although pay transparency is not required in the majority of the United States, we’re seeing it as an overall trend that other employers are beginning to follow.
Setting the pay transparency trend
The Society of Human Resource Management (SHRM) released data in March 2023 showing that 42% of surveyed organizations operate in a location which requires job postings to include pay ranges – but more than 66% of those surveyed say that their organizations list starting pay even when it is not required by law. Some of this is because of the prevalence of remote jobs that companies may wish to open up to job seekers from states where pay transparency is required, like California.
Pay transparency increases trust
At Fusion Marketplace, we believe this isn’t just a benefit for travelers, but for agencies. The SHRM data shows that a massive 73% of U.S. workers are more likely to trust companies and organizations which provide pay ranges for listed jobs, which is around the same statistic as the workers who are less interested in applying to jobs without pay ranges listed.
Of course, the listed wage on job postings does not take into consideration other benefits, perks, compensation package facets, or values associated with that listing, so job seekers would be wise to not immediately discount options that may end up being better fits overall.
We know that transparency is key to creating a fair and equitable workplace for travel nurses and other allied healthcare professionals. That's why we're joining the charge in providing precise information on pay for the travel nursing and allied healthcare industry.
These regulations highlight the importance of compliance and set a new standard for transparency across the board. This will allow job seekers to have a better understanding of what they should expect in terms of compensation for a given job.
By offering salary and benefit transparency, our platform empowers healthcare professionals to make informed decisions about their careers. Transparency benefits not only individuals but also staffing agencies and the industry as a whole by driving fair compensation practices and fostering both trust and loyalty between employers and employees.
Imagine that two nurses with similar qualifications and experience are offered positions with different pay rates. Without salary transparency, it would be impossible for them to know whether they were being compensated fairly for their work.
Travelers who use Fusion Marketplace can see the entire pay range for listed jobs, so nurses can see exactly what the pay range is and negotiate accordingly, ensuring that they are paid fairly for their hard work, experience, and education.
Moreover, as regulations around pay transparency continue to evolve, it's more important than ever to carefully evaluate potential career opportunities. Job seekers should look for companies like Fusion Marketplace that are committed to transparency and fairness, providing clear information about salaries, benefits, and other compensation-related details.
Pay transparency is a vital aspect of the healthcare industry and plays a central role in creating a fair and equitable workplace for all. By embracing these changes and choosing platforms like Fusion Marketplace, healthcare professionals can ensure that they are receiving the compensation they deserve and build a successful, fulfilling career in the field.