Current Situation
Organizations face discrepancies born out of a combination of system biases and entrenched variable pay band policies that have led to inequitable compensation protected by a legacy of translucency between employees performing the same work to the same standards. Equitable compensation includes direct financial compensation, such as salary, pension and benefits, merit pay, extra pay for administrative duties, and market differentials, as well as issues such as access to additional funds for travel and research, release time, time to tenure and promotion, workloads, and service commitments.
Goals and Objectives
Goals:
Embrace and build in concepts of pay transparency in candidate and employee management protocols.
Structure policies and digital accountability to support equal pay for equal work regardless of demographic characteristics.
Strategies:
Assess current pay bands and where employees lie within them for equal work, equal expectations, and equal performance standards and criteria.
Equalize compensation to equally attained standards of performance and growth and embrace complexity in the form of skills valuation criteria.
Technology Deployed
Workforce planning tools
Compensation management
Recruitment marketing
Talent branding
External assessment and publication resources — social and reporting
Compensation planning and management
Compensation analytics and reporting
Payroll
VoE — comms management, surveys, and feedback
Use Case Summary
Leverage analytics and contemporary HR platforms to scrutinize and standardize compensation, ensuring that it is fair and transparent across all employee demographics.
Engage in and standardize rules for pay gap analysis, accounting for every possible factor behind pay gaps. Equity in pay fosters a more informed, engaged, and satisfied workforce.