Posts Tagged ‘Pay Gap Risk Assessment’
Why and How to Conduct an Effective Pay Equity Audit
Why should achieving pay equity be such a high priority for employers? It’s an important question that has a multitude of answers. As Josh Bersin says, “if you want to win the war for talent, fair pay may be one of your biggest techniques.” In addition to helping organizations compete for top talent, paying employees…
Read MoreIllinois SB 1480 Pay Data Reporting Law Gets Amended
The state government of Illinois recently enacted sweeping changes to its equal pay laws. Originally signed into law right before Equal Pay Day 2021, Illinois SB 1480 was amended by SB 1487 on June 25, 2021 to provide greater clarification on how Illinois employers must comply with the new equal pay obligations. There are three…
Read MoreHow to Prepare for the ESG Reckoning: Three Essential Steps
When two founding members of Bain Capital’s impact investing fund sound the alarm that An ESG Reckoning Is Coming, employers should take note. Michael O’Leary and Warren Valdmanis cover a lot of ground in their new article for the Harvard Business review, from Nikola’s disastrously fake zero-emission semi-truck commercial to Former U.S. Attorney General Loretta Lynch’s…
Read MoreCalls Increase for Race/Ethnicity Pay Gap Reporting
Employers may already be aware of the pressure to disclose the gender pay gap in their organizations. What they may not know is that the pay gap issue is equally relevant with regard to all protected classes, not just in terms of gender. As a result, employers need to be prepared with pay equity solutions…
Read MoreIllinois Equal Pay Act To Require Employer Pay Data Reporting
The state government of Illinois recently enacted sweeping changes to its equal pay laws. On March 23, right before Equal Pay Day 2021, Illinois Governor Jay Pritzker signed SB 1480 into law. There are three critical parts to SB 1480: 1) the “Equal Pay Registration Certificate”; 2) public-facing employee demographic data reports, and 3) a…
Read MoreLeveraging Technology As Part of Overall Approach to DEIB
Employers are becoming aware that it’s increasingly important to make strides with regard to their Diversity, Equity, Inclusion, and Belonging (DEIB) efforts. Choosing the right technology provider is key. According to a recent study from Redthread Research, companies that are “serious about implementing systemic change and seeking to achieve a lasting impact should look to…
Read MoreThe Final ERISA ESG Investment Rule is Not So Final
What appeared to be the final ESG investing rule issued by the U.S. Department of Labor (DOL) on October 30, 2020, is now in flux. The final ESG investing rule, which applies to a 401(k) or 401(b) type plan, had required ERISA plan fiduciaries to base investment decisions on financial factors alone, prohibiting fiduciaries from…
Read MoreEmployers: EEO-1 Reporting Portal Scheduled to Open in April
There’s important news for employers concerned with advancing their Diversity, Equity, and Inclusion (DEI) efforts. The U.S. Equal Employment Opportunity Commission (EEOC) has announced that collections of 2019 and 2020 EEO-1 Component 1 Data, postponed in 2020 due to the Covid-19 crisis, will begin in April 2021. Some background: As part of its efforts to…
Read MoreWhat Employers Need to Know About Setting ESG Goals & Measuring Their Progress
As time goes by, it’s becoming clear just how important environmental, social, and governance (ESG) goals are for employers. Accurately measuring your ESG progress is only part of the solution. Like most business processes, companies look to Key Performance Indicators (KPIs) to measure progress towards goals and objectives. The issue is that employers are focusing…
Read MoreAn Employer’s Guide to Navigating the DEI&A Landscape
With the landscape around diversity, equity, inclusion, and access (DEI&A) continuing to evolve, employers need to be aware of what their responsibilities are for ensuring a safe, discrimination-free work environment for their staff. Before diving into the different nuances regarding the growing legislation driving employers to foster equitable work environments, it would be best to…
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