PAYANALYTICS EQUIPS EMPLOYERS TO CHART A COURSE TOWARD PAY EQUITY
This year, PayAnalytics has made strides in helping employers across the world chart a course toward achieving and maintaining pay equity. Now, our pay equity software solution has touched the lives of over 1 million employees in 75 countries, a milestone for our organization and a testament to the transformative power of our pay equity technology.
Beyond providing a solution that helps companies to see and close their pay gaps from Day One, we’ve also continued to build a knowledge center to help organizations learn what pay and workplace equity and pay transparency are, why they matter, and how to work toward achieving them. These concepts can be nebulous and daunting for even the most experienced of HR professionals, and our aim is to empower organizations by demystifying these goalposts and breaking them down into tangible, measurable steps.
To that end, we also maintain a resource library of local legislation that includes up-to-date information on pay transparency laws in the U.S., Europe, U.K., and elsewhere. We have made it our mission to equip employers with actionable information, both in the form of insights within the PayAnalytics solution itself, and in the thoughtful content we provide. Irrespective of where they are on their pay equity journey, employers will find resources they need to get started, keep going, and succeed.
A few of these resources include our newest research-based guide on The Benefits of Pay Transparency. When employers overcome pay secrecy, in essence, they demonstrate a commitment to their employees, showing them that they are valued, that they matter and make a difference. In turn, employers may see increased productivity, trust, and performance, as well as lower recruitment costs. Alongside this publication, we’re offering a reader-friendly Guide to Gender Equality Certification in Italy; the “reader’s digest” version is available on our blog, and the full guide is downloadable for easy sharing.
We also had the honor of joining our colleagues and cohort at World at Work’s Total Rewards conference in June of this year. Dr. Margrét Bjarnadóttir, one of our co-founders, presented on How to Use People Analytics Tools Fairly. In the spirit of inviting others into the conversation, we also crafted a short blog with key takeaways from the conference—including success stories.
Finally, one of our biggest accomplishments this year—apart from the overwhelming successes of our clients, including one large European company that closed its gender pay gap among 4,500 employees in a matter of days—was introducing a new Workplace Equity Feature in our software. This feature enables employers to use our solution to go beyond pay equity alone. Using this feature, they can analyze diversity and representation among current employees, new hires, and exiting employees, as well as look for demographic differences in raises and promotions. Further additions to and refinements of our solution—based on feedback from our users—are on the way in 2023 and 2024.
It has been, it’s safe to say, an exciting quarter at PayAnalytics. We’re excited to continue to build momentum on our shared journey toward making the world a more fair and equitable place for all. Together.