New York City (May 2, 2022) – While only 28% of employers believe pay inequity exists within their organizations, over four in five (82%)1 have had to adjust pay as a result of a pay equity audit. And, while 93% of respondents endorsed using analytics for making pay decisions, just 38% actually did so.Click here to download XpertHR’s Pay Equity 2022 Report
According to the report, another contributing factor is the very function responsible for leading diversity, equity and inclusion (DEI) efforts in most organizations. Fifty-three percent of companies that self-reported pay inequities said senior leadership has a high impact on driving pay disparities within their workforce.
“In today’s battle for talent—where the pressure from younger employees to exemplify transparency, inclusion and fairness is paramount—there’s never been a better time for business leaders to understand the picture of equity in their organizations,” said Zara Nanu, CEO and co-founder of Gapsquare.
In addition to investigating factors that contribute to pay inequities, XpertHR’s Pay Equity 2022 report shares data-centered, training-focused and communication-driven solutions for closing wage gaps. The solutions XpertHR and Gapsquare challenge companies to embrace include:
While equal pay for equal work remains the law of the land, data from the U.S. Census Bureau’s 2019 American Community Survey show that women continue to earn just 82 cents for every dollar earned by men. The pay gap is even wider for women of color and in many occupations historically held by women.
“Factors such as occupational segregation, a lack of women in leadership and the ‘motherhood penalty,’ perpetuate pay inequities in the workplace,” Nanu explained. “Ultimately, don’t we all want to build a world where work is fair, where pay meets value and diverse talent thrives? Data is a powerful resource that employers can use to get them there.”
Are pay disparities lurking in your organization? @xperthr_usa report offers data-centered, training-focused and communication-driven solutions. #LeadTheChange #payequity #DEI #diversity #equity #inclusion Tweet
Taking the Complexity out of Pay Equity
That’s where XpertHR’s Gapsquare comes in. The software combines people, pay and DEI data to deliver analytics-based pay strategies that take the complexity out of pay equity, wage gaps and fair pay. It analyzes a myriad of employment data points—including gender, race, disability, sexual orientation, gender identity, age and more—then provides actionable insights for achieving fair compensation structures. Furthermore, it responds to changes in workforce data and aligns to corporate DEI efforts in real time.
“This allows HR, DEI, reward and compensation, and pay analytics teams the freedom to focus on performance and productivity, recruitment and retention, and building inclusive teams,” continued Nanu. “It’s a sustainable, holistic solution to the growing global pressure to lead as an employer in our diverse and socially conscious world.”
XpertHR’s Pay Equity 2022 Report was generated from a survey conducted Jan. 25-Feb. 11, 2022. The survey included responses from 322 US employers from various industries and workforce sizes. The total number of employees of responding organizations was 829,374. The survey addressed several topics, including drivers of pay inequity, measures used to ensure pay equity and their effectiveness, what function leads pay equity efforts, and more. A press preview of the report is available to the media upon request.
XpertHR has been providing HR solutions since 2002, empowering organizations across the globe to build successful workforces and create a purposeful workplace for all. The platform delivers expert insight, trusted resources, data analysis and practical tools to help achieve greater efficiency, reduce risk, and increase employee engagement. XpertHR is developing smarter data analysis tools and cutting-edge technology to support future demands on HR in an increasingly digital world. To learn more visit xperthr.com.
Gapsquare is at the forefront of pay equity and wage analytics. Its innovative software Gapsquare™ Pro provides businesses with instant insights into wage gaps across various demographics, such as gender, race/ethnicity, disability and sexual orientation. Gapsquare’s mission is to create a fairer world of work: one where work is inclusive, where pay meets value and diverse talent thrives. To learn more visit Gapsquare.com.
1 Of the 44% of responding organizations that had conducted a pay equity audit.