You need to be confident that you are furthering pay equity for several reasons, but the best reason is pay transparency is the right thing to do. We can help you pay fairly and communicate clearly, attracting and retaining top talent around the world.
What is pay equity and why does it matter?
Pay equity means that everyone is paid equally for the same work, regardless of their gender, race, age or other factors. Pay equity matters because it is fast becoming law in many jurisdictions worldwide and it is vital to meeting environmental social and governance (ESG) goals.
Additionally, pay equity can:
- Improve team morale and employee engagement
- Boost overall job satisfaction and performance
- Enhance your business’ reputation with various stakeholders
- Reduce the risk of employee litigation
Studies have shown that companies with more diverse workforces are more profitable. When you commit to paying employees fairly, employees are more likely to stay with your organization. Also, when you pay your employees fairly, you reduce the risk of lawsuits.
Finally, pay equity is good for business reputation and can improve your relationships with customers and clients.
Driving and sustaining change
We help you identify and resolve the root causes of pay inequities, reducing the risks of their recurring and promoting pay equity. For many clients, this is a journey that can take several years.
We support you in training leaders and managers to clearly communicate pay equity to their people, enabling them to be accountable in how pay is determined and transparent about gaps and objective differences.
Pay equity analytics
We help you pay people fairly, working with you to:
- Develop a global approach to achieving pay equity, analysis and revealing pay gaps
- Use leading software to conduct pay analytics efficiently and effectively
- Understand the analytical outcomes and the remedial actions needed
- Integrate pay analytics into your regular pay management process
- Roll out your approach across markets, aligned to the EU Directive and other regional regulations
Pay transparency
Alongside pay analytics, we clarify your path to pay transparency:
- Assess the readiness of your job and pay structures
- Review your hiring, promotion and annual review policies
- Bring clarity to your approach when educating leaders, managers and employees when determining pay
- Develop your communication strategy and supporting materials
- Build your global narrative aligned with your diversity, equity and inclusion (DEI) and environmental, social and governance (ESG) goals
Bringing together global and local pay transparency regulations
We support local regulatory requirements, integrating these into your broader pay equity approach and provide:
- Pay transparency (U.S., Canada and EU Directive)
- Gender pay gap statistics (U.K., Ireland, Japan)
- Equal pay and index analyses (France, Switzerland)
- Workplace equality plans, wage registries, salary policies (Spain, Portugal)
- Employment equity compliance (Canada)
Telling your pay equity story in terms of DEI, ESG
Developing a strategy for how and what you will communicate is essential to the success of your pay equity policy. More internal and external stakeholders are increasingly demanding pay equity. We work with organizations to effectively communicate with these stakeholders.
Additionally, pay equity is a critical part of your broader DEI and ESG initiatives. When you pay your employees fairly you build a more inclusive and sustainable workforce.
We can help you connect your pay equity story to your organization’s wider ESG programs.
