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The Pay Equity Actions That Matter Most to Your Business

Make your people happy.

Research

the-pay-equity-actions-that-matter-most-to-your-business-and-your-workforce
@Jmwiehl via Twenty20

Unleash Your Pay Equity Employees want you to fix pay gaps – fact. So what can you do about it?

  • beqom found that three in four employees are aware of the pay gap disparity, with the highest awareness among finance and insurance industry workers (86%) and women (78%).
  • Only 34% of enterprise workers say they would give up workplace perks, such as free lunches, unlimited vacation, and work from home options if it meant that women were paid equally to men in their company; more than 43% would not.
  • But there may be one action that’s even more important to your employees than success in closing pay gaps: transparency.

The Pay Equity Playbook That Will Pay Off for Your Business

With increasing media attention and global regulations around the gender pay gap, it’s no surprise that employees know and care—a lot—about pay equity. In fact, a 2019 beqom survey of 1,600 enterprise workers found that a remarkable 73% of respondents believe there should be a national law mandating companies to disclose gender pay gap figures.

While nearly all large organizations now say they are working to close the gender pay gap and increase diversity in their workforces, these steps are not seen as effective by their employees and, in many cases, are not seen at all. But there may be one action that’s even more important to your employees than success in closing pay gaps: transparency (even when the news isn’t altogether positive).

In this guide, beqom outline what your employees think about efforts to improve the gender pay gap, how much pay gap transparency and equality efforts really affect employee loyalty and retention, where employees think the burden to close the gender pay gap lies, and which employer actions are valued most by workers.

Read more from beqom at UNLEASH here.

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