New White Paper Offers 5-Step Plan for Organizations to Implement Fair Pay
Affirmity's white paper, 'Cultivating Fair Pay in the Workplace: Your Guide to Global Pay Equity', examines definitions and examples of pay equity and unfair pay practices, and offers a practical process for implementation.
IRVING, Texas, Aug. 19, 2020 /PRNewswire-PRWeb/ -- Affirmity, a leader in the workforce compliance and diversity space with 45 years experience serving a wide range of global businesses and U.S. federal contractors, has released a major new white paper tackling the issue of unfair pay.
Taking a global view of fair pay and pay equity models and legislation, the white paper highlights how there are progressively harsher consequences for non-compliance: the OFCCP, for example, collected $81 million USD in monetary relief between October 2016 and September 2019. Meanwhile, there are significant PR and performance gains to be claimed by U.S. companies—and a straightforward five-step process to implementing change.
"The issues surrounding fair pay and pay equity are substantial, complex, and emotionally charged," explains Patrick McNiel, PhD, Principal Business Consultant at Affirmity and co-author of the white paper. "By re-examining and explaining the different ways of looking at and acting on pay equity, our hope is that this paper will help organizations as they navigate these issues to everyone's benefit."
The white paper explores four major topics, namely:
- What is Fair Pay? The guide begins by looking at the usefulness and practicality of "corrected" and "uncorrected" pay gaps, the difference between pay equity and equality, and other pay terminology.
- The Mechanisms of Unfair Pay: Research has shown that for every offer or counteroffer an African American employee makes, they receive $300 less in salary when compared to their white colleagues. Discover how myths and biases continue to undermine the compensation of this and other groups.
- Why Should Organizations Care About Fair Pay? The case for taking action on fair pay is discussed at length. Did you know that not only did the OFCCP collect a record $40 million in class settlements last year, but higher profits are 43% more likely for companies with the greatest ethnic/cultural diversity on their boards?
- Five Steps for Organizations Who Want to Contribute to Fair Pay: From defining what fair pay means to your organization to validating and iterating on your programs, the guide concludes with a five-step plan.
The white paper 'Cultivating Fair Pay in the Workplace: Your Guide to Global Pay Equity' can be downloaded here.
In support of the paper, authors Patrick McNeil and Pamela Pujo will be holding a webinar on Thursday, September 10 at 1 p.m. CT. In addition to a discussion of some white paper highlights, attendees are encouraged to bring their questions about identifying pay issues and implementing change. Click here to register your interest.
About Affirmity
Affirmity, a former division of PeopleFluent, provides expert analysis, consulting, training, and software to optimize affirmative action and diversity and inclusion programs. Our team of experts delivers diversity metrics and data-driven insights to manage and mitigate risk. Drawing on 45 years of experience, we guide HR and compliance teams through diversity goal setting. Affirmity empowers leaders with tools and dashboards to measure progress, and we help clients capture and communicate the positive business impacts of diversity initiatives.
A part of Learning Technologies Group plc (LTG), Affirmity serves more than 1,100 organizations—including global corporations, mid-sized organizations, and small businesses.
For more, visit affirmity.com.
SOURCE Affirmity
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