Global Pay Equity
Companies in Sweden are required to conduct a pay survey once a year. Doing so ensures that companies identify and address unfair differences in pay between women and men. But what does it look like in the company’s operations in other countries? Do the employees, irrespective of sex, age, ethnicity etc. have the same rights and opportunities when it comes to compensation and other benefits?
A global approach to pay equity
All employees have the right to receive fair pay, and companies are starting to understand the value of taking an integrated approach to pay equity and developing a clear process that will facilitate this. RewardSmarter’s Global Pay Equity Tool has been designed to help HR teams gain an overview of pay gaps right across the organization. The results of the analyses enable you to think globally and act locally.
Stronger corporate brand
A company strengthens its brand and is more likely to attract and retain employees when it demonstrates a serious commitment to diversity and inclusion. Diversity and an inclusive workplace drive employee engagement, innovation and performance and are therefore also good for business. Pay equity is an important sustainability measure and is important for customers, suppliers and investors.
How does the Global Pay Equity Tool (GlobalPET) work?
GlobalPET is a cloud service (SaaS) that enables analysis of salaries by country, business area, region and job level (equivalent level). You select the group(s), protected categories, to be compared and analyzed, e.g. gender, age and ethnicity.
The tool identifies groups where pay gaps exist and presents the results for each group being compared, which can be equal or equivalent category. You can perform more in-depth analyses to identify the drivers behind the differences in pay and it is possible to produce details for each employee where a pay gap is shown in relation to a group being compared.
Data is presented in interactive charts and reports, which are also available for export. The tool makes it simple to monitor developments and trends over time at a global level and by country.
CONTACT
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