This bill mandates that employers in New Jersey must transparently announce and disclose compensation details for job promotions and new job postings. Specifically, employers are required to make reasonable efforts to inform current employees about promotion opportunities before making a decision. Additionally, for each job posting, employers must include the hourly wage or salary (or a range), any supplemental compensation, a description of benefits (such as leave and health care plans), and details about retirement plans. However, promotions based on years of experience or performance are exempt from the notification requirements, and employers can still adjust compensation at the time of making an offer.

The bill also establishes penalties for non-compliance, with fines of up to $300 for the first violation and $600 for subsequent violations, enforceable by the Commissioner of Labor and Workforce Development. Notably, temporary help service firms and consulting firms are exempt from disclosing wage and benefit information in job postings aimed at identifying potential future applicants, but they must provide this information during interviews or hiring for specific job openings. Overall, the legislation aims to enhance transparency in employment practices and ensure that employees are informed about promotional and job opportunities.