• Totally Rewarding Chats | Ep. 18: Tackling Pay Equity Today and Moving Forward

  • Nov 12 2024
  • Length: 48 mins
  • Podcast

Totally Rewarding Chats | Ep. 18: Tackling Pay Equity Today and Moving Forward

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  • Summary

  • Understanding pay equity, transparency, and the raw pay gap In this conversation, Sean Luitjens and Gail Greenfield discuss pay equity and transparency in the workplace. Gail explains the difference between pay equity and the raw pay gap, highlighting the importance of addressing both the explained and unexplained parts of the pay gap. She also defines transparency as the mandatory and discretionary sharing of compensation information by organizations. Another key insight brought up from this conversation is the need for companies to consider pay equity and transparency as strategic decisions, and to be proactive in addressing these issues. One best practice for companies to get started with pay equity is to conduct a proactive pay equity analysis to understand the current state of pay equity in the organization and remediate any issues. Sean and Gail recommend organizations seek advice and guidance from experts, whether through consultants, technology solutions, or available resources. They also discuss ways to analyze pay to ensure internal equity, the cadence of remediation, the importance of monitoring pay equity progress between remediation cycles, and the challenges of remediation. The importance of monitoring pay equity progress between remediation cycles, and the challenges of remediation.
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