7. Creating a Pay Equity Practice
The key to maintaining pay equity is regular monitoring and advance planning. Monitoring involves keeping your job descriptions, job, and people data up to date and regularly performing a pay equity analysis. You should assess pay equity at least once a quarter and any time there are significant changes in headcount, usually from mergers and acquisitions, layoffs, or pivots involving lots of hiring.
When you know changes in headcount are coming, plan your pay equity audit and budget in advance to close any pay gaps. Then let people know you are doing it. It demonstrates that equity is important to the organization and that you are walking your talk.
Seven Steps to Get Started with a Pay Equity Program
To start ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access