Beyond Hollywood Headlines: How a Pay Equity Strategy Translates to a Competitive Advantage
Between Hollywood scandals and new salary history laws, systemic pay disparity has been a hot topic, spiking awareness through movements like #timesup and the publicity storm around wage discrimination plaguing large companies.
For business leaders, the pressure is high to identify and resolve pay disparities in their own organization. Some organizations over-think pay equity and create a strategy that is too complex and takes years to implement. While some have invested millions of dollars into compensation budgets as a quick fix. But for most organizations, that tactic is too costly and—more importantly— it neglects the implementation of a long-term solution that will effect meaningful change.
Beyond resolving gender and racial pay disparities, implementing a pay equity strategy gives businesses a competitive advantage in attracting, motivating, and retaining talented people. As companies look to their compensation teams to develop and implement a pay equity strategy, it’s critical for compensation professionals to understand how to champion pay equity and ensure the entire organization adheres to the strategy.
During this informative webinar, PeopleFluent’s compensation and pay equity experts Tom Sykes and Stephen Bruce will present:
- The long-term business benefits of implementing a pay equity strategy
- Tips on creating structured processes to support your pay equity strategy
- Best practices for educating decision makers and communicating compensation decisions