The time to get diversity, equity, and inclusion (DEI) right in the workplace is now. According to survey data from the PayScale Compensation Best Practices Report, a large percentage of employers are uncertain if they have a gender or racial pay gap.
Racism and sexism will continue to negatively impact opportunities and confidence in the workplace, as well as tarnish the brand and reputation, if employers don’t commit to getting pay right and equitable at their organizations.
So how do you define pay equity? While most organizations have reported that pay equity is very or somewhat important (65.5 percent), it’s important to call out that pay equity can mean different things, including:
- Equal pay for equal work. Associated with gender pay gap but should apply to all employees.
- Internal pay equity. Employees are paid fairly within the organization.
- External pay equity. Employees are paid fairly to the market.
Download the ebook to learn more from how your industry peers perceive pay equity at their organizations, and what analysis and commitments employers intend to make this year towards diversity, equity, and inclusion.