BLOG_The-State-of-Pay-Equity-2023-24-Report-from-HRcom-Includes-OutSolves-Neil-Dickinson

OutSolve is pleased to share that our own pay equity expert participated in this year’s HR.com report on the state of pay equity. The report compiles, examines, and analyzes responses from HR professionals from every industry worldwide, mostly from North America. 

The current emphasis on and legislation around pay transparency places pay equity in the top priorities for HR leaders. In the U.S. pay equity is not just an ethical imperative, it is quickly becoming a legal compliance issue. Employers who do not comply with these regulations are paying compensation to those employees affected and are damaging their reputations as employers of choice. Pay equity is not always straightforward when it comes to determining pay levels, but is associated with higher productivity and reduced turnover, making this report from HR.com a valuable research study. 

OutSolve’s Vice President of Compensation Services, Neil Dickinson, participated in the research which surveyed employers from April through June 2023. As part of the advisory board to HR.com in this effort, the goal of the report is “to influence the HR industry’s thought leadership and best practices and to advance the competencies and skills of HR professionals.” OutSolve commends Neil’s efforts and participation in this study and we invite you to read the final results. 

For the purpose of the study, HR.com defines pay equity as the practice of compensating employees the same way for the same work, regardless of factors such as gender, race, disability or religion. In other words, comparable pay for similar jobs within the same organization.  

The report covers the current state of pay equity, factors impacting pay equity, pay transparency, the decision-making process in pay equity, key takeaways and in-depth analysis of what pay equity means to employers. The depth of this report underscores the importance pay equity plays in most organizations.