Trusaic

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Pay Equity Deep Dive Part VI: Trusaic’s Salary Range Finder

Trusaic

This is Part VI of our “Pay Equity Deep Dive Series.” Part I focused on Compensation Philosophy Review and Pay Analysis Group formation and testing. Part II focused on Wage Influencing Factors (WIFs) and Reliability and Robustness Testing. Part III focused on Tainted Variable Analysis and Root Cause Assessment. Part IV focused on Developing a Remediation Strategy and continued into Part V which focused on Key Considerations When Developing a Remediation Strategy.

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New York City Increasing Pay Transparency Enforcement Activity

Trusaic

New York City’s pay transparency law , which went into effect September 2023, has been the subject of employer scrutiny in regard to compliance. The law requires employers to provide “good faith” salary ranges on job postings. Organizations such as Tesla, Amazon and Citi have tested those limits with overly large ranges, leading some to question the effectiveness of the law and others like it.

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France’s Path Toward Shrinking Gender Pay Gap Under EU Directive

Trusaic

In response to the EU Pay Transparency Directive, which requires employers operating in European Union member states to report on pay data, Trusaic will be evaluating the state of each country in the EU’s current gender pay gaps and the path toward compliance. The impetus for the EU Pay Transparency Directive was to close the 12.7 gender pay gap across the European Union.

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Arjuna Capital’s 2024 Racial and Gender Scorecard List: A Catalyst for Pay Equity

Trusaic

Arjuna Capital released its seventh annual Racial and Gender Pay Scorecard in March and the results highlighted where companies stand in their pay transparency efforts. The scorecard, which grades organizations on pay gap disclosures, underscores the need for many employers to work toward authentic pay equity. Arjuna continues to expand the list of companies they evaluate.

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EEO-1 Filing Opens April 30: What Employers Need to Know

Trusaic

The Equal Employment Opportunity Commission (EEOC) announced the 2023 EEO-1 filing process will begin April 30, 2024. The deadline to file the 2023 EEO-1 Component 1 report is June 4, 2024. The EEO-1 Component 1 report is a mandatory annual data collection requiring all private sector employers with 100 or more employees to file workforce demographic data.

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Virginia Pushing for Pay Transparency Legislation

Trusaic

The Virginia Senate is once again pushing for a pay transparency law to be implemented. Introduced by Sen. Jennifer Boysko, Senate Bill 370 has passed in the Virginia legislature and is headed to Gov. Glenn Youngkin’s desk. Legal analysts are dubious as to whether Gov. Youngkin will sign the legislation into law. If he does, Virginia would become the 10th U.S. state to pass pay transparency legislation.

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Opportunity Equity: The New Organizational Imperative

Trusaic

Striving for pay equity is a modern-day imperative for organizations. However, leading employers are looking more broadly at workplace equity. Building an equitable workplace involves a holistic approach to providing equal access to opportunities and treating people fairly. While achieving pay equity ensures your employees are paid fairly, workplace equity ensures they are treated fairly throughout the employee lifecycle.