Closing the Pay Gap, by Mark Perlberg, Vice President, PEO
It’s been more than 50 years since the Equal Pay Act was passed, but pay discrimination and pay gaps based on gender, race and other categories are still a relevant concern today. Employers should be proactive and evaluate their compensation and performance management strategies to try and close the pay gap and instill an inclusive and fair culture. To state the obvious, equal pay matters to employees. When they are paid fairly, they are more likely to be committed to your organization. What steps can your business take to close the pay gap?
Start by conducting a pay equity review to better understand what pay issues exist, and to identify the underlying causes. You should also train all hiring managers on equal pay requirements, advise them on how to make fair compensation decisions and provide equitable advancement opportunities for all employees. By taking steps like these, employers can ensure compliance with the Equal Pay Act and achieve pay equity for all their employees.