Get Pay Right

Pay Equity

Modern pay equity is defined as equal pay for comparable jobs that is internally equitable, externally competitive, and transparently communicated. Pay equity is defining how organizations approach their relationship with their employees, radically altering how we foster workplace culture and engagement. Our CompAnalyst^® Pay Equity Suite can help you achieve and sustain pay equity with the industry’s only true end-to-end solution for addressing the gender pay gap, pay raises, general pay inequality, and more.

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ACHIEVE PAY EQUITY

Mandate Pay Equity

With issues such as the gender pay gap coming to the forefront, HR departments are looking to ensure that they are not part of the problem. However, the most difficult part of pay equity work is often getting a mandate and resources from leadership. While it’s easy to declare that an organization should pay equitably, translating the pay equity process into an action plan that C-level executives and a board of directors can approve and fund has traditionally been challenging. Salary.com helps you develop a pay equity philosophy with your leadership team that explains the “how and why” behind employee pay and outlines the organization’s commitment to pay equity.

FOUNDATION FOR PAY EQUITY

Group Comparable Jobs

The foundation for pay equity is equal pay for comparable work. Defining and documenting comparable work upfront ensures your pay equity analysis is accurate.

Salary.com provides the tools and expertise you need to collect relevant compensation and job data, document your job description library, and group jobs based on required skills, qualifications, and levels to be analyzed across gender, ethnicity, race, and other protected classes.

ANALYSIS FOR PAY EQUITY

Model Internal Pay Equity

An assessment of the overall gender, race, and other demographic elements that effect pay are essential to a credible pay equity analysis. Our tools and experts deliver pay gap analyses across gender, ethnicity, race, and other protected classesis, perform regression and cohort analyses, and help you identify pay disparities and strategies for remediation.

PRICING FOR PAY EQUITY

Benchmark External Market Pricing

Internal equity alone is not enough. Having completed your analysis and set internally equitable pay structure bands, you need to benchmark those new ranges against the external market to understand your ability to attract and retain talent. Salary.com’s pay equity and compensation management software, data, and experts provide everything you need to streamline the benchmarking and market pricing process, allowing you to remain competitive in the war for talent.

COMMUNICATE PAY EQUITY

Pay Transparency

When an organization is transparent about pay, the positive impact on culture, employee engagement, productivity, and innovation can be profound. With Salary.com, you get the tools and expertise you need to effectively communicate your compensation philosophy, train managers on how to talk about pay with employees, and build trust. Complete our Pay Equity Audit and Certification and affirm to your employees and job candidates that your company is a pay equity leader.

SUSTAIN PAY EQUITY

Update Continuously

The work doesn’t end with your initial pay equity analysis - it is only the beginning. CompAnalyst^® Pay Equity Suite helps develop a thorough remediation plan that best fits your organization’s compensation philosophy and resource constraints. You’ll also need to assess internal equity and external competitiveness on an ongoing basis to maintain pay equity. When there is an event tied to compensation such as a new hire, performance review, promotion, or termination, Salary.com has you covered. We give you the tools and resources you need to evaluate job content, structures, and pay data so you get it right.

The Plunkett Pay Equity Framework™

Pay equity is having more than a moment – consider it a movement. The time to act is now. Organizations that reject the outdated market-based pay philosophy they have today to adopt a pay equity approach to managing compensation will emerge as employers of choice. The Plunkett Pay Equity Framework prescribes a six-step methodology for attaining pay equity, while removing any perceived mystery around this critical issue. Download this white paper for all the details.

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What is Pay Equity

In the simplest terms, pay equity is two people, regardless of their identity, being paid similarly for doing similar jobs with similar responsibilities, while considering their performance, experience, tenure, and other factors. In practice, pay equity is a topic that requires a broader understanding of the social and economic impact, as well as knowledge of legislation, and the ability to master your compensation strategy and structure. Let our experts help.

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