Developing a Comprehensive Pay Equity Strategy

This is your HR News Flash, your briefing on talent management and the world of work from HRCI.

The gender pay gap has not improved over the past five years. This gap is further marred when race and culture is a factor. HR practitioners must work towards greater pay equity and career opportunities for qualified individuals. Here is how to enact pay equity for your organization

First, review pay policies and procedures.

Set pay equity objectives that begin at the point of recruiting and hiring. This should carry through for performance reviews and career promotions. Compensate employees equally when they perform the same or similar job duties, while accounting for other factors such as their experience level, job performance and tenure with the employer

Second, address work process changes.

Determine how virtual and work force fluctuations impact your organization’s processes. HR must remain agile in monitoring work culture and shifts in performance. Adapt policies and practices that reward behavior and pay based on the individual’s efforts to meet and exceed ROI goals.

Lastly, ensure pay equity.

Pay transparency is a vital component of pay equity. It is becoming more common that pay practices and processes adhere to labor requirements and laws. Managers must be comfortable answering compensation questions that align with the organization’s mission and labor strategy.

This concludes your HR News Flash. HRCI prepares HR leaders for the digital age. Thanks for listening. Check back soon for the workplace news you need. Learn more at HRCI.org.

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