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Webinar - Power Pay Equity with Payscale

Join Payscale’s pay equity experts as they demo Payscale’s pay equity software and discuss how it can help you meet your pay equity goals.

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Power Pay Equity with Payscale
Today's Presenters:
Sarah Walsh
Pay Equity Solutions
Consultant
Anna Spessard
Pay Equity Product
Marketing Manager
Today's Agenda
• Market Trends
• Unique Value of Payscale Pay Equity
• Payscale Pay Equity Demo
• Resources
Why is pay
equity such a
critical issue
right now?
5
• Consider impact of an active labor
market on pay equity and pay
compression
• New challenge – pay transparency
• Increasing pay transparency means
that employees will not only see pay
ranges of peers, but also for positions
higher and lower than them. As a
result, the uncontrolled pay gap will
become a greater focus.
The State of Pay Equity in 2023 can be found here
The State of Pay
Equity in 2023
The commitment to pay equity remains strong
The Compensation Best Practices report 2023 can be found here
The legislative and reporting outlook
Pay
transparency
Gender
audits
Reporting
requirements
Equal pay
certification
The business case is proven
“Perception of fair pay impacts retention more
than market competitiveness and pay
transparency reduces the likelihood that
employees will seek a new job.”
"Organizations that manage pay equity well see
more employee trust in leadership, greater
employee engagement, less turnover, and
improved company performance overall."
“Companies in the top quartile for gender
diversity on executive teams were 25% more
likely to have above-average profitability than
companies in the fourth quartile.”
“Diverse management teams are innovative and earn
a premium for their innovation. According to one
recent study, over a period of three years companies
with higher diversity in management earned 38%
more of their revenues, on average, from innovative
products and services than those companies with
lower diversity.”
Payscale Fair Pay Impact Report Korn Ferry
McKinsey Boston Consulting Group
9
Poll: Has your
organization conducted
pay equity analysis?
❑ Yes, continuously
❑ Yes, annually
❑ Yes, every few years
❑ Yes, but many years ago
❑ No, never
❑ Unsure
Pay Equity Analysis with Payscale
4 phases
Commit Diagnose
Take
Action
Sustain
Pay Equity experts – here to support you
Phil Turner
Becky Wood Melissa Bligh
Chris Iverson
General Pay Equity Consulting
Product Support
Our team has 70+ years of
compensation experience combined!
"As HR professionals, Payscale has added
another level of comfort for us to know that we’re
doing it right. Pay Equity has helped to build
trust and credibility with our staff and board by
sharing results from our analysis and it
helps make our annual pay audits a lot easier."
13
Poll: What is your
biggest challenge when
it comes to Pay Equity
Analysis?
❑ Making it sustainable and continuous
❑ Creating more efficient processes
❑ Needing to collect more granular data
❑ Getting leadership buy-in and budget approval
❑ Understanding the basics
❑ Something else
❑ Unsure
Pay Equity Demo
Q&A
Feel free to ask any questions in the chat!

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Webinar - Power Pay Equity with Payscale

  • 1. Power Pay Equity with Payscale
  • 2. Today's Presenters: Sarah Walsh Pay Equity Solutions Consultant Anna Spessard Pay Equity Product Marketing Manager
  • 3. Today's Agenda • Market Trends • Unique Value of Payscale Pay Equity • Payscale Pay Equity Demo • Resources
  • 4. Why is pay equity such a critical issue right now?
  • 5. 5 • Consider impact of an active labor market on pay equity and pay compression • New challenge – pay transparency • Increasing pay transparency means that employees will not only see pay ranges of peers, but also for positions higher and lower than them. As a result, the uncontrolled pay gap will become a greater focus. The State of Pay Equity in 2023 can be found here The State of Pay Equity in 2023
  • 6. The commitment to pay equity remains strong The Compensation Best Practices report 2023 can be found here
  • 7. The legislative and reporting outlook Pay transparency Gender audits Reporting requirements Equal pay certification
  • 8. The business case is proven “Perception of fair pay impacts retention more than market competitiveness and pay transparency reduces the likelihood that employees will seek a new job.” "Organizations that manage pay equity well see more employee trust in leadership, greater employee engagement, less turnover, and improved company performance overall." “Companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile.” “Diverse management teams are innovative and earn a premium for their innovation. According to one recent study, over a period of three years companies with higher diversity in management earned 38% more of their revenues, on average, from innovative products and services than those companies with lower diversity.” Payscale Fair Pay Impact Report Korn Ferry McKinsey Boston Consulting Group
  • 9. 9 Poll: Has your organization conducted pay equity analysis? ❑ Yes, continuously ❑ Yes, annually ❑ Yes, every few years ❑ Yes, but many years ago ❑ No, never ❑ Unsure
  • 10. Pay Equity Analysis with Payscale 4 phases Commit Diagnose Take Action Sustain
  • 11. Pay Equity experts – here to support you Phil Turner Becky Wood Melissa Bligh Chris Iverson General Pay Equity Consulting Product Support Our team has 70+ years of compensation experience combined!
  • 12. "As HR professionals, Payscale has added another level of comfort for us to know that we’re doing it right. Pay Equity has helped to build trust and credibility with our staff and board by sharing results from our analysis and it helps make our annual pay audits a lot easier."
  • 13. 13 Poll: What is your biggest challenge when it comes to Pay Equity Analysis? ❑ Making it sustainable and continuous ❑ Creating more efficient processes ❑ Needing to collect more granular data ❑ Getting leadership buy-in and budget approval ❑ Understanding the basics ❑ Something else ❑ Unsure
  • 15. Q&A Feel free to ask any questions in the chat!