PAY TRANSPARENCY
Pay Equity Audit & Certification
Our compensation experts will conduct our systematic process for assessing your organization’s internal and external compensation strategies and determine the extent to which employees across the organization are paid fairly. We will assess differences in pay and determine if they are justified under the law or attributable to defensible factors. If not, we will make recommendations regarding corrective actions you can take to remediate and get certified. Throughout this process, we will leverage our CompAnalyst® Pay Equity Suite to conduct this audit and provide the guidance to help you leverage our tools as well.
Data Collection and Validation
For an accurate Pay Equity Audit, our team will help you determine the availability and quality of employee demographic data (such as gender, ethnicity, etc.) through our HR Metrics and Analytics service. Establishing and maintaining data quality and integrity is a challenge for even the most sophisticated organizations, and a pay equity analysis will only be as good as the data on which it is based. Salary.com’s Data and Analytics professionals will review and validate your data by being laser-focused on the critical elements that will power your equity metrics.
Job Analysis and Documentation
Conducting a Job Analysis is the starting point for a comprehensive Pay Equity Audit and the first step in designing a good compensation system. Our compensation experts will gather the content of all jobs within your organization and then help structure and document job descriptions. For a solid pay equity process, it’s important to keep job descriptions updated throughout the year. We can also guide you on how to leverage our JobArchitectTM product to use as your system of record for all job description management.
Define Comparable Work
The foundation of pay equity is equal pay for comparable work which is determined through a Job Evaluation process. Defining comparable work, or groups of comparable jobs, upfront ensures your pay equity analysis is accurate. Our consultants will help you define similar work through a comprehensive Job Evaluation process. From the Job Evaluation process, we can help you build Job Structures to support the comparable job groupings essential for an accurate Pay Equity Analysis. For a system of record of job structures and comparable work, we can also guide you on how to use CompAnalyst Pay Equity Suite to help define the job hierarchy necessary for this work.
Internal Equity Analysis
Our consultants will first conduct an assessment of pay gaps to determine if there are any pay differences between gender and other protected classes that are statistically significant, and whether these differences can be explained by a factor other than gender, race, or other demographic. Next our consultants will run a multi-variate regression and cohort analyses to identify potential pay disparities between employees doing comparable work, and which cannot be explained based on permissible job-related factors such as seniority, experience, qualifications, etc. We can also help guide you on how to leverage CompAnalyst Pay Equity Suite to conduct a Pay Gap Analysis.
Remediation
Our consultants will develop recommendations on remediation strategies for internal equity outcomes and provide guidance and advise on the most appropriate distribution method for pay adjustments. We will work collaboratively with senior executives, legal counsel, and HR leadership to develop a strategy for making pay changes based on the organization’s risk tolerance, culture, and budgeted resources.
Benchmark External Market Pricing
Market pricing is the process used to determine the external value of a job. At the core of Salary.com has been our powerhouse CompAnalyst compensation management software to help streamline the market pricing process. Salary.com’s compensation analysts will use CompAnalyst to benchmark your company jobs or guide you on how to market price them with CompAnalyst. We will leverage your survey sources and/or use our robust library of Compensation Data.
Compensation Program Design
Our consultants will help you design a compensation program that brings together the internal and external analyses for a fair and effective pay program. Leveraging CompAnalyst, we will build salary structures, and also guide you on how to use CompAnalyst to maintain the structures and programs. We will work with you to make the necessary changes based on your compensation philosophy.
Company Compensation Philosophy
Our compensation experts will work collaboratively with organizational leadership to focus on the creation of a sustainable pay philosophy that is aligned with organizational values, culture, and strategic goals. The resulting philosophy would state that your company is working to ensure a balance among external competitiveness, internal equity, and transparent communication.
Transparent Communication Plan
It’s critical to communicate transparently regarding your pay equity analysis and to develop consistent messaging to effectively manage employee and stakeholder expectations, while making sure to minimize risk and disruption. Our consulting team will support communication efforts by helping you create your communication plan, train managers on how to communicate with employees about pay and help train the HR and pay equity resources to sustain this communication and ongoing training.
Update Continuously
A pay equity process must be regularly monitored. We recommend that you update job content, structures, and other key areas whenever there’s a new employee hired, a performance review, a termination or other key events that would affect overall compensation. We will help you set up the structure and process for this and guide you on how to leverage CompAnalyst Pay Equity Suite for ongoing alerts and insights.
Pay Equity Certification
If you engage with Salary.com in a Pay Equity Audit, we would provide you with a Pay Equity Certification that documents your commitment to pay equity and your good faith participation in the audit. We will provide a written certificate as well as a badge that can be displayed to employees and to candidates and on your public website. Certification demonstrates that your organization has completed a comprehensive pay equity audit and is committed to being a fair payer.
Insights You Need to Get It Right
