It is especially great when I don’t have to create them. (Thank you Christine Hendrickson!) I attended a webinar today about the EU Pay Transparency Directive and how employers should be preparing to meet the requirements.

Here is a link to Syndio’s EU Pay Transparency Cheat Sheet: https://synd.io/blog/eu-pay-transparency-cheat-sheet/

Key Webinar Takeaways:

1.     The data you need to collect may be in multiple systems. Make sure it is accurate.

2.     Don’t wait to start your analysis. Be proactive and not reactive.

3.     Budget to fix pay disparities. Be prepared to fix them before reporting is required in 2027.

4.     Craft your narrative: What’s your pay story? This needs to fit your employer’s purpose, mission, and values. The public reporting will cause a lot of questions from your stakeholders (think employees, customers, managers, C-suite, board, etc.).

5.     Your compensation strategy, philosophy, and decision-making process need to be explainable.

6.     Who do you reward and why? Do a pay equity audit. Is what you SAY and what you DO the same?

7.     The Ripple Effect – What is happening in the U.S. is impacting the EU and other countries. What is happening in the EU is impacting the U.S. Keep up on what is happening around the globe regarding pay transparency and equity.

8.     If you work for a company that is not global today, be aware of these requirements and how they may impact your employer in the future.

And if you need help getting ahead of these requirements, we should talk.

#paytransparency #payequity #totalrewards #compensation #humanresources #eudirective