Pay Equity in the Workplace: What You Need to Know
Pay equity is one of the most important workplace issues right now. This article offers tips and tricks for employers to ensure they are offering equal chances and opportunities to their team members.
Pay equity and equality in the workplace has been a frequent topic in the news recently, especially in the #MeToo era of media. Employers and employees may wonder exactly what this new environment means for pay equality, specifically for employees who may be female. The reality is that it’s important for employers to be honest and up front about salary expectations for their employees, as this can help build trust and lead to strong relationships with their employees. There are a few ways a workplace environment can be friendly in regards to equal pay.
First off, employers should regularly assess how they are paying employers. According to The National Law Review, it’s important for employers to conduct regular pay audits. This helps ensure that employees are paid similar salaries based on their experience and qualifications. In addition to salaries, bonuses and additional financial incentives should be considered to ensure that each team member is making a reasonable wage. A pay audit is one of the most effective ways to take an honest look at how each person at the company is being paid. It also gives supervisors and leaders a chance to remedy any areas in the budget where certain team members may be making less than they should.
Another way that employers can help manage their pay equity and ensure that their employees are treated fairly is to encourage transparency in the workplace. While this may seem counterproductive or even stressful, the reality is that when employees can be honest about how much they make, this can encourage employers to offer equal wages to team members. According to Forbes, this is one of the most effective ways to encourage equality in any workplace. Whether you manage a small, family owned store or you’re the CEO of a large corporation, encouraging your team members to freely discuss their wages and benefits can help encourage fairness and transparency.
It’s also important for employers to take the steps necessary to ensure that team members are offered the same chances at advancement and forward momentum. For example, if business meetings are always held at a time when a majority of female team members cannot attend, consider changing the time of these meetings. If new projects tend to go to senior team members, consider bringing in a few new employees on each project. This can encourage diversity and growth, but it can also ensure that each employee is given the same chances when it comes to moving forward.
If you’re an employer and you’re wondering how you can further enhance your company’s workplace experience, make sure you meet with an employment attorney who can assist you. The right lawyer wants to help ensure you’re in compliance with both state and federal laws regarding pay equity and will help you take the steps you need to move forward as you create a safe and inclusive workspace.