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Research

Fair Pay by Deloitte

Better for your Employees. Better for your Business. Better for the World.

The challenge
 

Pay inequity is one of the most enduring and unjust realities in the global workplace.

For decades there have been laws prohibiting gender-based wage discrimination between men and women in the same workplace who perform jobs requiring equal skill, effort, and responsibility under similar conditions. As of 2022, the global gender gap has been closed by 68.1%. However, at the current rate of progress it will still take 132 years to reach full parity (*).

Today, achieving pay equity is no longer solely a matter of eliminating sex discrimination but requires a deeper examination of varying perspectives and a more granular look at pay data.

Yet ensuring equal pay for equal work remains challenging for many organizations and employers are often not always aware of existing gaps. The gender pay gap really reflects the biases embedded within our society.

(*) World Economic Forum, Global Gender Pay Report 2022

Elevate your brand name and protect yourself from risk.

Allow your employees to focus on their work, instead of unfair systems.

Acquire the best talent on the market and retain your precious talent.

Create a culture of inclusiveness, which is founded on transparency and fair systems.

Ensure you comply with regulatory framework and manage your reporting requirements.

Walk the talk and address key issues holding you back from reaching DEI and ESG targets.

Our services
 

Our carefully crafted fair pay program includes:

  • Identify existing pay gaps with robust statistical analysis
  • Address root causes of pay inequity embedded in systems and processes.
  • Ensure compliance with fair pay legislation
  • Link with your broader HR and reward strategy
  • Led by a multi-disciplinary team of experts in data science, reward and legal

Reward Strategy & Policy

Legal Compliance & Reporting

Change Management & Communication

Operations & Systems

Incorporate fair pay into the broader reward strategy, looking at an evidence-based, data-driven program that considers full fair pay across the organisation (and borders). Using statistical analysis, we uncover the hidden drivers of the pay gap.

If inequalities are identified, look at adjusting the financial (and non-financial) pay structures and update the relevant rewards policies, with an impact assessment both from an employer (cost) and individual perspective.

Take a proactive approach to fair pay in light of legislative changes and landmark rulings.

Be mindful of country specific differences.

Within Europe anticipate on the upcoming Pay Transparency Directive.

Ensure compliance with disclosure rules and reporting requirements, need for actionable measures and mitigate any risks.

Staying abreast.

Plan for tailor-made communication and training for both internal (HR/rewards) stakeholders and your employee population. It’s a matter of education and removing the biases embedded within our society. Decision makers and people managers will be trained to prevent unconscious bias and siloed decision-making..

In order to be successful, it is important to communicate in a transparent way about your fair pay program with the proper communication channels and tools.

In order for a fair pay program to be manageable and sustainable in the long run, it is important to examine the various in-house HR processes, technologies, and behaviors and assess how these impact decision-making related to compensation.

It is key to inject best practices and look at niche fair pay products or solutions on the market to make your fair pay program effective.

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