Increasingly, our research is showing that pay equity and pay transparency are critically linked. In other words, employers that score highly in one will typically score highly in the other, and vice versa. That’s because as the market has shifted in recent years, we’ve seen a clear connection between transparency and openness on compensation and the willingness for an organization to address any pay equity gaps or challenges that may exist.
The research infographic below (downloadable format here) shows just how these data points come together. For instance:
- Employers using salary survey data for pricing their jobs are nearly 3x more likely to score highly on pay equity.
- Organizations with finance, legal, or other functions in charge of pay equity are likely to have a lower pay equity score overall.
- High transparency organizations are 3.5x more likely to be sharing pay data both internally and externally, not just one or the other.
To see the full findings from this research, check out our Compensation Data and Technology Buyer’s Guide and Landscape Report.
Ben Eubanks is the Chief Research Officer at Lighthouse Research & Advisory. He is an author, speaker, and researcher with a passion for telling stories and making complex topics easy to understand.
His latest book Talent Scarcity answers the question every business leader has asked in recent years: “Where are all the people, and how do we get them back to work?” It shares practical and strategic recruiting and retention ideas and case studies for every employer.
His first book, Artificial Intelligence for HR, is the world’s most-cited resource on AI applications for hiring, development, and employee experience.
Ben has more than 10 years of experience both as an HR/recruiting executive as well as a researcher on workplace topics. His work is practical, relevant, and valued by practitioners from F100 firms to SMB organizations across the globe.
He has spoken to tens of thousands of HR professionals across the globe and enjoys sharing about technology, talent practices, and more. His speaking credits include the SHRM Annual Conference, Seminarium International, PeopleMatters Dubai and India, and over 100 other notable events.