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What is Compensation Management?

Zenefits

One of the main benefits of a good compensation management system is pay equity, but there are ample other benefits, like aiding in budget creation, attracting recruits, reducing turnover, and more. It’s important for business owners and HR leaders to know how compensation management works, the benefits, and what to consider before investing in an appropriate system. . What is compensation management? What are the objectives of compensation management?

Why Businesses Must Recognize Equal Pay Day

Zenefits

While part of the gender pay gap can be attributed to occupational choices and hours worked, discrimination and bias against women continue to remain a factor. Zenefits can help you run business intelligent reports for gender and compensation analysis: .

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OMB Issues Stay on Revised EEO-1 Reporting Requirements

Zenefits

A new EEO-1 form, containing expanded reporting requirements on compensation, gender, and hours worked, was to go into effect for the March 2018 deadline. However, on August 29, 2017, the OMB indefinitely postponed the additional data requirements, citing concerns that the expanded collection of information lacked “practical utility,” imposed an undue burden on employers, and failed to adequately address privacy and confidentiality issues. Zenefits can help!

Pay Secrecy is Illegal. Pay Transparency is On the Rise

Zenefits

Revelations of pay inequality have stirred up lawsuits alleging pay discrimination against a string of firms, mostly from the tech industry. Former President Barack Obama issued two executive orders : one promoting “equal pay for equal work” aimed at bringing about greater pay transparency, and a second requiring federal contractors to release compensation data to the U.S. Pay Transparency is On the Rise appeared first on Zenefits Blog.

Paycheck Fairness Act Back in Congress, Seeks to Ban Salary History

Zenefits

The measure would hold employers accountable for discriminatory practices , end the practice of pay secrecy, ease workers’ ability to individually or jointly challenge pay discrimination, strengthen remedies for wronged employees and prohibit employers from seeking the salary history of prospective employees. Data from the U.S. Data from the U.S. Reporting wage data.

Updated List of Cities and States with a Salary History Ban

Zenefits

Pew Research reported that in 2018, women earned 85 cents to every man’s dollar, up 5% from Census Bureau data of 2017. Last yeah, Zenefits produced an equal pay report based on original SMB data, which found that the gender wage gap in small businesses was 18% greater than the national average. According to that 2018 data, women were paid a whopping 34% less than their male counterparts within the SMB world.