Companies who say they care about inclusion and belonging can start by paying employees fairly. To start, initiate a pay equity audit in which you compare the pay of employees doing “like for like” work (accounting for reasonable differentials, such as work experience, credentials and job performance) and investigate the causes of any pay differences that cannot be justified. Next, determine how you’ll remediate any issues, and identify operational gaps that led to the salary discrepancies in the first place. Finally monitor your hiring, promotion and compensation processes on an ongoing basis.
Author: Amii Barnard-Bahn
Source: Harvard Business Review
Subjects: Compensation, Diversity, Human Resources