Being confident on your pay equity is fundamental to meeting the wave of new pay transparency requirements in the U.S., Europe (the EU Pay Transparency Directive) and beyond.

Compensation and remuneration committees and business leaders do not want greater pay transparency to bring unexpected costs, employee reactions or other risks. They are looking for assurance that pay and benefits systems are delivering pay equity and/ or steps are being taken to make them ready for greater transparency.

How we partner with you

We offer full support to help you become confident of your organization’s pay equity and readiness for greater pay transparency. We partner with you to develop a sustainable approach, 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 market-leading software. 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.

Pay equity analytics and software

We have a suite of analytics to help you identify where you may have pay equity issues, what is causing them and where you need to act. In addition, we support compliance with local regulatory reporting.

For regular pay equity analytics, we use the market-leading PayAnalytics software (or, if you prefer, your favored software):

• The analytics identifies where you have unexplained differences in pay between employees, what’s driving them, which employees are impacted and the costs of closing gaps.
• This is done easily and cost-effectively within the software, using a multivariate regression model.
• We tailor the model with you to best reflect how pay is managed in your organization and your priorities for the analytics.
• We provide you with outputs that are easy for your rewards teams to work with along with key messages for leadership.
• We use the outputs to determine what individual pay adjustments may be required and what broader pay management improvements may be required to ensure issues do not recur.
• If you want your own software license and run the analytics yourself, we will support the transition and equip your teams.

How WTW help you meet the EU Pay Transparency Directive

We offer full support on preparing for the EU Directive. Currently, most clients are at the planning and analysis stage. We can help you with:

• Educating stakeholders: We can run workshops for your stakeholder groups to familiarize them with the provisions and begin to work through the implications.
• Assessing readiness: We have developed a fixed cost “EU Pay Transparency Directive Readiness Checklist” that comprises a mix of quantitative and qualitive assessments, making it easier for you identify the key gaps between current state and where you need to be. Working with you, we use the insights from the assessments to build a high-level roadmap and the supporting business case.
• Planning: We can help you map out the team structure, roles and responsibilities in preparing for the Directive alongside detailed plans.
• Data and analytics: We can help you build your internal analytics capabilities. This includes support in selecting a software provider, building process maps, and creating analytics guidebooks.

Worldwide pay equity support

Our local pay equity teams can also support you with all your local or regional compliance requirements.

• Pay transparency (Canada, EU Directive, US)
• Gender pay gap statistics (Ireland, Japan, UK)
• Equal pay and index analyses (France, Switzerland)
• Workplace equality plans, wage registries, salary policies (Brazil, Portugal, Spain)
• Employment equity compliance (Canada)