A powerful mix of social, political, and demographic forces has launched pay equity to the top of the corporate agenda in the US and abroad, with businesses under growing pressure to ensure they pay employees fairly and without regard to gender or race. As a result, the US federal government has ramped up pay equity enforcement; a number of states, including California, New York, New Jersey, and Massachusetts, have strengthened their pay equity laws; activist shareholders are pushing publicly traded companies to identify and eliminate pay gaps; and several countries, including the UK, are requiring companies to publicly disclose their pay information.
All of which has sharply raised the stakes for businesses that fail to pay equitably. Companies today are far more vulnerable to pay-related complaints and enforcement penalties, and equal pay litigation is on the rise, with multi-million dollar settlements increasingly common. Companies exposed as having unfair pay practices risk tarnishing their consumer brand and hurting their ability to attract and retain talent
Fortunately, there are certain steps any organization can take to effectively assess where they stand on pay equity and to close gaps. Download this piece to obtain in-depth guidance on how to identify, analyze, and fix pay gaps by:
- Assessing and clarifying your organization’s existing approach to pay
- Proactively auditing pay systems to identify pay gaps
- Creating a high impact communications plan to define how — and how much — you will talk about your findings and strategies
- Fixing individual “point-in-time” pay gaps
- Creating a strategy for sustainable, long-term change
In 1963, the federal government implemented the Equal Pay Act with the intention of abolishing wage disparity based on sex. Since then, 42 states have expanded upon that law to further protect women and other protected classes from wage discrimination.
However, not all state-level pay equity laws are created equal. While states like California, New York, Maryland and Massachusetts have some of the strictest equal pay laws in the country, many states, such as Arizona and Florida, have only minimal protections.
Click through our interactive presentation to learn more about the equal pay laws in each state. Only interested in learning about a particular state? Simply click on the state itself to view it's stance on equal pay.
With five different generations in the workforce, it can be challenging to understand and balance their diverse expectations when it comes to total rewards. These rewards include everything an employee values in the work relationship, including compensation, benefits, work/life balance, performance management, coaching, job satisfaction, and motivation. To address the needs of different generations in the workforce, you first need to define them as individual groups and understand their typical expectations.
In partnership with Total Rewards Solutions Blog, this article takes a look at how to balance total rewards for different generations. Download this article to learn more or email email@example.com for a copy sent to your inbox.