In part one of this two-part blog series, we looked at some of the history behind the vital modern concept of workplace pay equity, plus some of the challenges that businesses still face when it comes to maintaining pay equity. This concept, which dates back to the 1960s and is now a vital priority for employers everywhere, is important for everything from attracting talent to retention rates, legal compliance and simple moral reasons.
At WTA Inc., we’re proud to offer a wide range of HR services to businesses around Salt Lake City, including outsourced payroll services and many others that speak to important concepts involved in workplace pay equity. Part two of our series today will go over some simple tips we regularly offer to employers on how to not just work toward the goal of pay equity, but to maintain these approaches over time.
Clearly Defined Goals
One of the first and most important steps a business can take toward workplace pay equity is to set clear goals for themselves in this area. This means identifying specific objectives that relate to equal pay practices, such as closing any gender or racial wage gaps within a certain timeframe.
Once these goals are established, they should be communicated clearly to all employees so that everyone understands the company’s commitment to pay equity and their role in achieving it.
Internal Auditing
Another key step in maintaining workplace pay equity is conducting regular internal audits. These audits should include a review of employee compensation data, promotion rates, and other factors that may contribute to disparities in pay.
For instance, look at historical pay practices, performance evaluations, and starting salaries to identify any patterns or biases that could lead to unequal pay.
Importance of Anonymizing Data
During any kind of auditing or analysis process aimed at achieving workplace pay equity, it’s crucial to anonymize data as much as possible. This means removing any identifying information such as names, genders, or ethnicities from employee records when conducting analyses.
This helps eliminate any potential biases or prejudices that could sway the results and ensures a fair evaluation of pay practices.
Look for Pay Gap Patterns
As you’re reviewing your data and identifying any potential pay gaps, it’s important to look for patterns that may indicate systemic issues. For instance, are certain departments or job roles consistently paid less than others? Are there disparities in pay between genders or racial groups within specific roles?
Identifying and addressing these patterns is crucial to maintaining workplace pay equity and can help prevent future discrepancies.
Regular Training and Education
Finally, ongoing training and education on the topic of workplace pay equity is essential for maintaining a fair and equitable work environment. This includes educating managers on how to identify and address bias in hiring, performance evaluations, and compensation decisions.
It also involves regularly communicating with employees about company policies regarding equal pay practices.
At WTA Inc., we understand the importance of workplace pay equity and the challenges businesses face in achieving and maintaining it. That’s why we offer a variety of HR services to help companies stay on top of this critical issue. Contact us today to learn more about how we can assist your business with fair and equitable pay practices. Together, we can create a more just and inclusive workplace for all employees.