Addressing objections to pay equity software
In today’s environment of legislation and global shifts around the pay gap, achieving pay equity is not optional. Here, we address three of the most common objections to investment in pay equity software:
#1: Lack of budget
As global pay equity laws become more complex, investment in a robust pay transparency policy will be key to both compliance and your organization’s ability to attract and retain talent and achieve financial goals.
Globally, we are on the cusp of a new era of pay equity, epitomized by the EU Pay Transparency Directive. The EU Pay Transparency Act also puts the onus of the burden of proof on the employer. A Joint Pay Assessment is triggered whenever the pay gap exceeds 5%
Pay equity software helps you to:
- Comply with EEOC reporting, including Title VII
- Navigate complex legislation
- Prepare for, and comply with, EU Pay Transparency Directive
By failing to invest in pay equity software that addresses your organizational needs, enables you to comply with pay transparency laws, and demonstrates compliance with EEOC Title VII, your organization is at risk of potential equal pay claims or lawsuits.
If your current system is outdated, does not offer intersectionality or address root causes of pay disparities, or leads to repeated issues in your compensation structures, you are at risk of non-compliance. Investment in pay equity attracts more investment, increases staff retention and employee engagement, and contributes towards achieving financial goals.
The cost of investing in pay equity reduces the significant risk of sanctions and fines for non-compliance.
#2: Pay equity isn’t a priority
Pay equity must be a priority for every employer. Evolving and expanding pay transparency legislation, and a trend towards responsible AI is placing the onus on employers to ensure compliance and prevent pay discrimination.
Globally, we are on the cusp of a new era of pay equity, epitomized by the EU Pay Transparency Directive. The EU Pay Transparency Act also puts the onus of the burden of proof on the employer. A Joint Pay Assessment is triggered whenever the pay gap exceeds 5%.
There’s more to adopting a culture of pay equity than ensuring compliance with pay transparency laws. It provides a springboard for best-in-class, forward-thinking organizations to create a more open, inclusive, and positive workplace, and in doing so, rebuild connections and employee trust.
Further, organizations do not have pay equity unless their employees believe they do.