Pay Equity Deep Dive Series
A comprehensive blog series by pay equity expert Gail Greenfield.
Gail Greenfield, Trusaic's Executive Vice President of Pay Equity and Total Rewards Strategies and Solutions, dives deeply into the topic of pay equity. Each blog provides actionable strategies you can apply at your organization and sheds light on Trusaic's methodological approach to achieving authentic pay equity through our software solutions and expert guidance.
Access the full series of blogs below to level up your pay equity knowledge and begin the journey to achieving pay equity.
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Part 1: Compensation Philosophy Review and Pay Analysis Group Formation and Testing
Gain an understanding of the concept of pay equity, including the difference between the explained pay gap and the unexplained pay gap. Additionally, the blog delves into what questions to ask to better understand your compensation philosophy, which plays an important role in guiding key decisions about your pay equity analysis. From there, you'll learn about appropriately segmenting your workforce for analytical purposes.
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Part 2: Wage Influencing Factors and Reliability and Robustness Testing
A Wage Influencing Factor (WIF) is a factor reflecting skill, effort, responsibility, working conditions, or location that one would expect to influence employee pay. Examples include career level, job function, performance rating, tenure, education, and geographic location. In this blog, we explain the role WIFs play in conducting a pay equity review, factors to consider when deciding what WIFs to include in your pay models, the value of creating a WIF matrix, and ways to consolidate and refine your WIFs. We also share a set of criteria to identify whether the models you've created are reliable and robust.
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Part 3: Tainted Variable Analysis and Root Cause Assessment
In a pay equity analysis, Wage Influencing Factors (WIFs) are meant to be business-related or job-related factors that one would expect to influence employee pay. However, a WIF may have the appearance of bias if it's statistically related to gender, race/ethnicity, or other demographic characteristic. In such cases, the WIF may be tainted. In this blog, we discuss how to identify potentially tainted WIFs. We also discuss how to prevent pay inequities from recurring by conducting a root cause assessment.
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Part 4: Developing a Remediation Strategy
Once you've created your Pay Analysis Groups (PAGs), consolidated and refined your Wage Influencing Factors (WIFs), and conducted reliability and robustness testing, you're ready to develop your fair pay strategy. In this blog, we offer guidance on where to remediate and selecting a remediation strategy.
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Part 6: Preventing Pay Inequities
Every compensation decision - whether it's a new hire pay decision, a merit pay adjustment, a promotion decision, or an off-cycle pay adjustment - is an opportunity to help prevent, or potentially worsen, a pay inequity. For this reason, compensation decisions should be in alignment with internal equity at every stage of the employee lifecycle. In this blog learn how to leverage your pay equity analysis to prevent pay inequities.
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Part 7: Pay Equity Methodology Myths and Misconceptions
By sharing and scrutinizing common myths and misconceptions, we aim to help organizations refine their methods to address pay equity more effectively. In the first part of our examination, we focus on myths about analyzing total compensation, segmenting your workforce, factors to include in your pay models, and statistical significance
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Part 8: Pay Equity Methodology Myths and Misconceptions Continued
Continuing with pay equity methodology myths and misconceptions, we reveal three more, which dive deeper into pay equity analysis, examining intersectionality, reference class practices, and remediation. Should you automatically set the reference class for race as "White" and the reference class for gender as "Male"? Learn why not in the blog.
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Part 9: Evaluating Remediation Effectiveness
One topic we hear too little about is evaluating the effectiveness of pay equity remediation efforts. If an organization spends $X on remedial pay adjustments, will pay disparities fall by $X, by more than $X, or by less than $X. In this blog, we explain how to answer this question by calculating the ROI of your remediation efforts.
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