It's time to make pay equality central to pay strategy
The constant evolution of people within an organisation makes pay equality a moving target, but modern compensation software from Payscale can help you monitor salaries and close pay gaps – simply and continuously.
Equal pay matters more than ever
Commitment to Diversity, Equality, Inclusion, and Belonging (DEIB) means that closing the gender and racial pay gap is not only a legal requirement, but a socio-economic imperative critical to demonstrating company values and enabling growth.
Pay equality must be managed continuously
Pay equality is often perceived as a project that begins with an audit to measure potential pay gaps between employees. Pay disparities between workers doing the same job must be defensibly tied to compensable factors: experience, skills, location, responsibilities—not race, gender or other protected classes. However, it is better to think of equal pay as an ongoing strategic programme to attract, retain and engage talent that ensures fair pay through continuous monitoring. Because organisations are always changing, pay equality needs to be assessed with:
- Every hire
- Every pay raise
- Every promotion
- Every change to the organisation
Begin equal pay with the right mindset
Values &
Culture
Culture
Demonstrate your organisation's values and commitment to diversity, equality, inclusion, and belonging (DEIB) by closing pay gaps.
Fairness & Transparency
Attain a reputation for treating all workers fairly with equitable pay practices that are proudly communicated and completely transparent.
Efficiency & Compliance
Streamline operations around ensuring fair and equitable pay with automated technology, advanced analytics and compliance reporting.
Pay equality solutions from Payscale
Dive deep into pay equality analysis
With Payscale’s compensation management software and supplemental services, you gain secure access to a continuum of pay equality analytical tools that can be configured specifically to the needs of your organisation, including both a library of flexible standard reports and customisable dashboards integrated natively with Tableau.
- Measure uncontrolled and controlled pay gaps by gender and race
- Conduct multivariant regression analysis for all dimensions that impact pay
- Predict the budgets required for remediation of salaries where pay gaps are found
- Build custom, refreshable dashboards to monitor your progress
- Generate reports that demonstrate legal compliance to pay equality
Monitor pay equality continuously
With Payscale’s pay equality software, you can track insights on pay equality trends within your organisation so you can identify key areas of risk, understand where pay gaps are explained by non-monetary factors and track remedial actions and progress toward pay equality where they aren’t.
- Monitor controlled and uncontrolled pay gaps
- Quickly check whether pay is fair comparatively across cohorts
- Model the pay increases required for remediation at the employee level
- Model total budgets required for remediation across groups
- Assess the impact of pay raises on pay equality as part of compensation planning
Featured content on pay equality
Start making pay equality central to pay strategy
Learn how Payscale compensation software and services can assist you on your journey to achieving and maintaining equal pay.
Get your personalised demoFresh perspectives on equal pay
Start your journey toward equal pay today
Ask how our compensation software and services can help you conduct pay equality analysis and manage pay equality overtime to get pay right. Fill out our form to request a demo.