Pay equity is a critical issue for organizations today, both from a legal compliance standpoint and a broader ethical and cultural perspective. Compensation Works provides comprehensive pay equity analysis and consulting services to help organizations offer equal pay for equal work.
Here is what our pay equity compliance service involves:
- Data Collection: We start by collecting detailed compensation data for each role within the organization. This includes salary, bonuses, benefits, and other forms of compensation.
- Job Analysis: We analyze the roles to understand their responsibilities, required skills, and other job-related factors. This allows us to identify which positions are comparable for pay equity.
- Compensation Analysis: We then analyze the compensation data to identify disparities between comparable roles. This involves statistical analysis to determine whether any differences in pay can be explained by job-related factors such as experience, performance, or tenure or whether they may be due to discrimination.
- Recommendations: If we identify any potential pay equity issues, we provide recommendations for addressing them. This might involve adjusting pay scales, reviewing compensation policies, or improving transparency around pay practices.
- Ongoing Monitoring: Pay equity is not a one-time issue but needs to be monitored and managed continuously. We provide tools and guidance to help organizations monitor pay equity over time and ensure continuous compliance.
In short, our pay equity compliance service helps organizations treat all employees fairly, maintain legal compliance, and build a culture of equality and transparency.