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Prosper Consulting, LLC

  • Services
    • HR & Compensation Consulting
    • Career & Pay Negotiation Coaching
    • Workshop & Speaking Topics
  • About
  • Community
  • Careers
  • Contact
  • Resources
    • Blog
    • Book Recommendations
    • Career Resources
    • Connect on Social Media
    • Free Pay Data
    • In The Media
    • Salary Surveys for Employers
    • Search This Site
    • Video Recommendations

Fair Pay and Equity for All

July 29, 2024 Denise Liebetrau

Is it a realistic goal?

  • Achieving full gender equality could take close to 300 years if the current rate of progress continues. (Source: UN Women and the UN Department of Economic and Social Affairs)

  • Gallup defines equity as fair treatment, access and advancement for each person in an organization.

  • Fair means impartial and just. It is without favoritism or discrimination.

Open communication around pay is one of the most important aspects of employee engagement.

Employees want to feel like they are valued. Most have no idea if they are paid fairly.

According to Payscale’s research:

·        57% of people who are paid at market believe they are underpaid.

·        42% of people who are paid above market believe they are underpaid.

·        72% of people who are actually paid below market believe they are underpaid.

Employers still have a lot of work to do around pay communications and pay transparency.

#paytransparency #fairpay #payequity #genderequality #employeeengagement #hr #compensation #rewards #human resources

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