5. How to Audit Pay Equity
by Kent Plunkett
Assessing and improving pay equity has become easier as tech companies have developed tools to help organizations understand pay practices both internally and in the market. It’s now possible to assess pay equity in your organization, identify potential issues, and have the information you need to address any gaps. With that in mind, we define pay equity as follows:
Equal pay for comparable work that is internally equitable, externally competitive, and transparently communicated.
This holistic view of pay equity shifts compensation analysis from pure market pricing to a broader equity approach that is sustainable, fair, and designed for business success.
The Plunkett Pay Equity Framework has six ...
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