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Pay Equity
Compensation Solutions
All-in-One. Effective. Convenient Packages
All package plans include:
Consulting Support
Data Validation
Benchmarking
Kickstarter
Best package for companies with little to no standardized pay structure looking to build a solid, compliant foundation. Begin your journey here.
Dedicated Compensation Team
Pay Philosophy Development
Consulting on Pay Transparency Laws
External Pay Benchmarking w/Location and Industry Factors
Internal Pay Benchmarking
Establishment of Pay Grades and Ranges
Pay Setting for New Hires
Internal Pay Equity Analysis
Annual Maintenance and Adjustments
EEO-1 and VETS-4212 Reports can be added for an additional fee.
Pro
Best package for companies looking to maintain compliant, fair pay practices, manage risks, and prepare for mandatory pay reporting.
Dedicated Team of Compensation, Statistical, Legal Support
Development of Pay Analysis Groups
Development of Pay Models with Advanced Multiple Linear Regression Statistics
Validation of Pay Models with Advanced Multiple Linear Regression
Cohort Analysis for Smaller Groupings and Job Titles
Identify Correctable Pay Gaps at Job Title/ Employee Level
Remediation to Close Pay Gaps
Enterprise Pay Gap Analysis
Pay Equity Communication Plan
Legal Support
Annual Statistical Check-ups at a Reduced Rate
Package Service Descriptions
Comprehensive Solutions in Each Pay Equity Package
1
Dedicated Team
Work with OutSolve’s compensation team to establish a foundational pay framework that aligns with industry standards, promotes internal equity, and supports talent attraction and retention
2
Pay Philosophy Development
OutSolve will work with Human Resources and Leadership to clearly define the goals of your organization's Pay Philosophy. This philosophy will define your compensation program objectives or guiding principles that drive how your organization will approach pay.
3
Pay Transparency Consulting
In the last five years, there has been a significant increase in pay transparency and state pay reporting laws across the United States. With retained consulting support designed for the jurisdictions you work in, well keep you in compliance with applicable requirements.
4
External Pay Benchmarking
OutSolve’s compensation specialists will analyze industry salary surveys and benchmarks to understand the market rate for various positions within your organization. They will also determine if your pay philosophy aligns with market trends and recommend adjustments if necessary.
5
Internal Pay Benchmarking
OutSolve will analyze internal factors such as employee experience, performance, and tenure to establish equitable differentials within each pay grade. This ensures fairness and consistency in compensation across various roles and levels within the organization.
6
Establish Pay Grades and Ranges
OutSolve can help you build a robust and equitable pay grade structure that supports talent acquisition, retention, and overall employee satisfaction, laying the foundation for a fair and competitive compensation environment.
7
Setting Pay for New Hires
OutSolve will help design transparent and competitive salary offers that not only align with market standards but also reflect your organization's commitment to fair and equitable compensation practices. Clear communication of the salary components ensures a positive experience for new hires.
8
Internal Pay Equity Analysis
Evaluate the internal pay structure to ensure fairness and equity among employees with similar skills, responsibilities, and experience. Identify and address any existing pay gaps that may lead to internal inequities.
9
Pay Analysis Groups
Working with your compensation teams, Outsolve will tailor similarly situated pay groupings to your organization's specific needs by incorporating customizable criteria. Whether it's department, location, education level, or any other relevant factor, OutSolve adapts these critical groupings to your unique requirements.
10
Pay Models Advanced Multiple Linear Regression Statistics
Our expert statisticians work closely with your team to develop customized pay models that reflect the intricacies of your organization. By considering factors such as experience, skills, performance metrics, and market trends, we create models that align with your unique compensation strategy.
11
Testing Pay Models with Advanced Multiple Linear Regression Statistics
Harness the power of advanced statistical techniques, including multiple linear regression, to uncover complex relationships between various compensation factors. This method allows for a more nuanced understanding of how different variables impact employee pay.
12
Cohort Analysis for Smaller Groupings and Job Titles
For smaller groupings and unique positions at your organization OutSolve will place an emphasis on analyzing pay equity within specific job titles. This approach allows for a granular examination of pay differentials based on factors such as role, department, tenure, and performance.
13
Remediation to Close Pay Gaps
Working with your legal team OutSolve will provide multiple remediation options to address any areas of concern.
14
Enterprise Pay Gap Analysis
This reporting includes an analysis of Pay Gaps in a dashboard format to support ESG and DEI initiatives. It is designed to be a visually compelling way to understand your organization’s Pay Gaps and spur conversations with senior leadership on how gaps may have occurred and how they can be reduced over time.
15
Pay Equity Communication Support to Leadership and Employees
OutSolve will work with your teams on best practices in communicating your company’s commitment to pay equity.
16
Legal Support
This project may utilize the legal expertise of a skilled employment lawyer with extensive pay equity experience to create protection for your reporting and understand the legal requirements and implications of pay equity analysis
What is Pay Equity?
Benefits of pay equity includes a competitive employer brand and a fair workplace that retains top talent.
Pay equity for companies is the practice of ensuring that all employees are compensated fairly and equitably for their work. Pay equity aims to eliminate unjustified differences in compensation, promoting fairness and equality within the workplace. It is not only about compliance with legal requirements but also about fostering a diverse, inclusive, and motivated workforce.
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