At WTW we have a global community of pay equity and transparency colleagues to help you become more confident on pay equity and transparency. They are supported by a global hub of SMEs, statisticians, and economists, pay equity analytics software, and Embark communication software.
Why are pay equity and pay transparency so important?
Pay equity and pay transparency are important because your employees expect to be paid fairly. They have a right to equal pay. It is part of being a responsible employer and running a sustainable business that can attract, retain and engage employees. Pay equity and transparency are increasingly required by law and regulations in many countries.
Pay equity and pay transparency are inseparable.
- Pay equity ensures that employees are paid fairly based on their work and qualifications.
- Pay transparency ensures that employees understand how they are being compensated.
We believe that pay transparency encourages pay equity.
When you are confident in your pay equity, then meeting the wave of new pay transparency requirements in the U.S., Europe (the EU Pay Transparency Directive) and beyond is easy.
Additionally, compensation and remuneration committees and business leaders are looking for assurance that pay and benefits systems are delivering pay equity or are taking steps to address pay equity. They do not want greater pay transparency to bring unexpected costs, employee reactions or other risks.
73% report that these growing regulatory requirements are encouraging increased levels of pay communication
How we partner with you
We completely support your efforts to become confident of your organization’s pay equity and pay transparency policies. We partner with you to develop a sustainable approach to pay equity and transparency, wherever you are located and in a way that best meets your needs.
We combine decades of deep expertise in employee rewards, analytics and communication with our data and software enabling you to rest assured you are in the right hands. This matters, as confidence in pay equity and pay transparency is about more than analytics, it is about having an objective job and rewards systems and managers and employees who are well educated and confident on pay.
We can partner with you at each and every stage to align your organization with U.S. and EU Pay Transparency Directive developments.
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Ambition and plan
Through a series of workshops, we help you articulate your goals on pay equity and transparency, plan how you are going to get there and develop the supporting business case.
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Analytics
Our suite of pay equity analytics identifies where you have issues and the remedial actions needed. We can run the analytics for you, or we can equip you to run the analytics yourselves. We use PayAnalytics software (or your chosen software provider).
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Action
We identify where individual pay adjustments may be required and what broader pay management enhancements are needed. We can help you strengthen your job architecture and leveling frameworks, tighten your reward structures and supporting policies to enable fair and equitable pay decisions by managers.
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Communicate
We partner with you to develop your narrative on pay equity, and the roadmap and materials needed to engage and educate leaders, managers and colleagues, so all are ready for greater pay transparency.
