Developing a Pay Equity Strategy - Introduction | Knowledgecity

When it comes to compensation, there are some areas that may need clarifying, like the purposes of unions, equity, and audits. We guide you through the terms that may help you set a functioning and reliable pay structure that can adjust to the market or your company’s evolving needs. Paying equal wages for equal work may seem challenging, especially if you discover pay gaps in your records, but this course shows you how to recognize this as an opportunity to move toward regularly monitoring how you compensate your workforce.

Some organizations prefer to examine job requirements and allow that to determine which rates are fair. But after taking this course, you’ll know how to incorporate more elements, like qualifications, seniority, duties, and your own, customized salary brackets that correspond to the job levels in your company. You’ll easily set an auditable standard so pay follows a clear system that you and your employees can trust.

We’ll also look at how changes in the workplace can impact your wage and salary structure. You’ll learn about preparing for these major shifts and comparing the initial costs to the potential outcome. You’ll discover how to collect data from multiple sources that can provide a better picture of the market, recognize the value of pay transparency, and understand that no matter how favorable a company's practices appear to be, there may be room for improvement.

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