CSRD Reporting Standards Take Effect January 1, 2024

CSRD Reporting Standards

January 2023, saw the adoption of the EU’s Corporate Sustainability Reporting Directive (CSRD). From as early as January 2024, companies across the EU’s 50 member states must comply with CSRD Reporting Standards.  The number of companies affected by sustainability reporting obligations is predicted to rise from 11,700 to 50,000. 10,000 of those are non-EU organizations, and…

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Pay Equity Reporting: Corporate Sustainability Directive vs IFRS

pay equity reporting

Sustainability reporting is expanding across all industry sectors. Foremost among these is the EU’s Corporate Sustainability Reporting Directive (CSRD), which takes effect in 2024. At the same time, the IFRS is also expanding references to standards related to equal pay. What does it mean for global pay equity reporting?  Corporate Sustainability Directive Summary EU sustainability standards…

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Breaking Gender Barriers in Mining: South Flank Case Study

Breaking gender barriers

A remote Australian mine is seemingly achieving the impossible in breaking gender barriers in the workplace. South Flank, a BHP iron ore mine in Western Australia, has achieved an impressive gender balance. 40% of its frontline employees and four out of its six senior managers are women. The ILO (International Labor Organization) defines gender balance,…

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ESG Developments: The Impact of CSRD on Pay Equity

ESG developments

On January 5, 2023, the EU’s Corporate Sustainability Reporting Directive (CSRD) came into force, replacing the EU’s 2014 Non-Financial Reporting Directive (NFRD). In this article we explore the latest ESG developments and their impact on pay transparency. Closing the gender pay gap is a key component of the CSRD. Potential ESG impact on non-EU employers More than…

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US Pay Equity Regulations and the EU Pay Transparency Directive

pay equity regulations

Complying with pay equity regulations is a constant challenge for employers operating in multiple jurisdictions. In this article we explore the parallels between the EU Pay Transparency Directive, and the diverse state-level regulations and federal laws in the US.  US compliance: challenges facing employers  As they endeavor to ensure workplace fairness and equal compensation, American…

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Is AI In Salary Management the Solution To Pay Equity?

AI in salary management

The combination of machine learning (ML) and AI in salary management could help HR to determine the “perfect salary” for employees.  Pay equity legislation and the risk of equal pay claims is forcing employers to review the way in which compensation decisions are made. They also want salary decisions to reflect individual skills rather than…

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AI in HR: Can You Trust Your Pay Equity Software Provider?

Pay Equity Software

EEOC Title VII guidance released last month highlighted the need for employers to partner with a trusted pay equity software provider.  The technical assistance document outlined the application of Title VII of the Civil Rights Act of 1964 to automated systems. It aims to prevent discrimination caused by AI to job applicants and employees, including…

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Microsoft’s Decision on Pay Raises Makes Pay Equity a Priority

Pay Equity

Microsoft is skipping employee pay raises for full-time salaried employees and its senior leadership team in 2023, a move announced by CEO Satya Nadella which contrasts with its 2022 salary increases. Employee bonuses, stock awards and promotions will continue.  Microsoft’s decision on pay raises reflects a growing trend in the tech sector. Only 35% of…

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