Does pay transparency close the gender pay gap?
Pay transparency has been touted as a solution to pay inequity and to close the gender pay gap. But does it work? Payscale looked at the data to find out.
The constant evolution of people within an organization makes pay equity a moving target, but modern compensation software from Payscale can help you monitor pay equity and close pay gaps—simply and continuously.
Pay equity is often perceived as a project that begins with an audit to measure potential pay gaps between employees. Pay disparities between workers doing the same job must be defensibly tied to compensable factors—experience, skills, location, responsibilities—not race, gender, or other protected classes. However, it is better to think of pay equity as an ongoing strategic program to attract, retain, and engage talent that ensures fair pay through continuous monitoring. Because organizations are always changing, pay equity needs to be assessed with:
With Payscale’s compensation management software and supplemental services, you gain secure access to a continuum of pay equity analytical tools that can be configured specifically to the needs of your organization, including both a library of flexible standard reports and customizable dashboards integrated natively with Tableau.
With Payscale’s pay equity software, you can track insights on pay equity trends within your organization so you can identify key areas of risk, understand where pay gaps are explained by non-monetary factors, and track remedial actions and progress toward pay equity where they aren’t.
Payscale partners with the USC Race & Equity Center to help organizations conduct deeper analysis to understand the root causes of their pay equity problems and bring about systemic change as part of a broader commitment to Diversity, Equity, Inclusion & Belonging (DEIB)Learn more about the USC Race & Equity Center
Pay Equity and DEI EBOOK 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...
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