Effectively address pay equity

Many leading organizations are taking a more active and strategic approach to ensure equal pay in their workforces. 

The opportunities and challenges organizations may face when effectively addressing pay equity include:

• Responding to intensifying pressures from governments, activist investors and employees to offer equal pay
• Attracting and retaining high-quality talent through fulfilling career opportunities and pay fairness
• Consistently assessing and addressing unexplainable pay gaps across different geographies

To address these issues, organizations can include pay equity analysis as a core component of their annual compensation reviews. They can also proactively prepare disclosure of pay and rewards and strive to make every individual feel valued.

Locally and globally, Mercer helps organizations effectively address pay equity and ensure pay fairness in their rewards. Based on statistical methods (that conform to the highest standards), our approach is designed to have a significant and sustainable impact. It is informed by many years of collaboration with the world’s leading companies. 

Key features:

• Drill down into pay gaps
  Review pay data across the workforce and check pay distributions against a range of other metrics.
• Consider remediation options
  Experiment with different adjustment strategies and create customized strategies to provide fair pay for all.
• Assess impact
  Evaluate the impact of actions on pay gaps and budgets, review individual-level outliers and document special-case situations.