This bill mandates that employers in New Jersey enhance transparency regarding compensation in employment listings and promotional opportunities. Specifically, it requires employers to make reasonable efforts to announce and post promotion opportunities to all current employees in the relevant departments before making promotion decisions. Additionally, for all job postings, employers must disclose the hourly wage or salary (or a range), any supplemental compensation, a description of benefits (including leave, health care, and dental plans), and any retirement plans associated with the position. However, promotions based on years of experience or performance are exempt from these notification requirements, and employers can still adjust compensation at the time of making an offer.

The bill 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. It also clarifies that temporary help service firms and consulting firms are not required to provide compensation details in job postings aimed at identifying potential future applicants but must disclose this information during interviews or hiring for specific job openings. Overall, the legislation aims to promote fairness and transparency in the hiring and promotion processes within the state.