A pay equity analysis is critical to determine if pay inequity exists within your organization. Once you’ve “sized up” the situation, and if you’ve uncovered a problem, devising a remediation strategy is the next step. During this session, Mercer experts will discuss the evolution of remediation strategies and share insights on how to develop a remediation strategy that aligns with your organization’s pay equity objectives and budget constraints.
This session will help you understand how to match your goals with budgets and remediation actions in the context of risk uncovered by the pay equity analysis. Many remediation strategies overlook where the risk is concentrated and are blind to gender and race. These strategies may not lead to the desired results. A better approach is to devise strategies tailored to your organization’s needs, taking into account your priorities, causes of pay gaps, targeting where gaps are concentrated, and the tradeoffs between these considerations.
It is imperative to:
- Know the risk at an actionable group level
- Walk into pay equity analyses with a clear set of priorities
- Understand the trade-offs
- Understand what drives risk in a particular group
- Understand the different remediation tools and combinations of these