First and foremost, it's the right thing to do. Eliminating pay inequities based on gender, race, ethnicity, and other protected statuses is quickly becoming a major topic of conversation across the industry. Even more, based on new regulations across the globe, we are finding that many of our clients need insight into their pay equity risk and what they can do to respond quickly. We are seeing a number of significant forces brewing in the market for talent that make addressing pay inequities a true competitive imperative today, including:
Our approach is grounded in this basic understanding: measuring pay gaps and delivering pay in an equitable fashion are two fundamentally different things. It's one thing to look for differences in pay between groups of people, it's quite another to understand, mitigate, and fix the policies and biases that create those differences in the first place. Our process challenges clients to go beyond simple pay assessments to find and fix root causes. That's the only way to drive systemic and sustainable change.
Following most regression analyses, we find areas where immediate change is required. Sometimes change is needed at the individual level, policy level, or both. And in every case, remedies must be executed and communicated with caution. Every response plan we build for clients includes guidance in the following key areas:
In cases where pay inequities are driven by large systemic issues—previously unknown biases, poor linkages between pay and performance, weak job and salary structures or poor recruiting practices—we’ll help you craft a strategy for long-term change. Some of our most common follow-on work streams include:
Associate Partner, Ward Group
Associate Partner, People Analytics at Aon
Shelley Eisenhandler, a Partner in the Asset Management practice, manages McLagan’s hedge fund business, comprising over 100 hedge funds and including 17 of Alpha magazine’s Top 20.
Shelley’s work in the hedge fund industry is focused on helping clients link performance to reward. To that end, she has conducted compensation surveys, performance benchmarking studies, market practice studies, incentive plan design work and customized industry research. In addition, she provides compensation and benchmarking consulting services to investment management firms.
Shelley joined McLagan in 2004 after spending two years at GE Financial.
Shelley received a B.S. in Marketing from the University of Connecticut.
Associate Partner, McLagan
Liz Snyder leads client benchmarking and compensation design engagements in the U.S. and Canada. These assignments include Core Enterprise Operations (CEO), Claims and Information Technology benchmarking, and broad-based base pay and incentive compensation benchmarking and design.
Liz has extensive experience leading a wide range of client projects covering an array of insurance segments and other industries. Her scope of work includes project management, job analysis, questionnaire design and automation, career path development, compensation structure design and analysis, market pricing, wage and hour compliance and training, incentive design, and systemic compensation, staffing, and expense benchmarking.
Liz joined Aon Hewitt, the parent company of McLagan and the Ward Group, in 1997. Prior to joining, she worked as an attorney advising insurance companies in employment, subrogation, real estate, and construction litigation.
Liz received a B.A. in Political Science and Statistics from the University of Michigan and a J.D. from the University of Southern California.
Associate Partner, People Analytics at Aon
New York, NY
Rajiv Ramanathan, an associate partner in Aon's workforce analytics practice, specializes in assisting clients with linking human capital data to business outcomes. His areas of expertise include developing analytics strategies, evaluating and implementing analytics technologies, strategic workforce planning, developing predictive models around attrition risk, diversity analytics and pay equity modeling. Most recently, he helped lead the development of Aon's pay equity modeling tools for the US market.
Rajiv has advised clients in a number of industries, including financial services, healthcare, insurance, oil & gas, pharmaceuticals and technology. He has also published numerous white papers and articles on workforce analytics, strategic workforce planning, workforce segmentation, performance metrics and driving transformation in HR.
Prior to joining Aon, Rajiv worked with Hay Group in their organizational effectiveness practice, and Renaissance Worldwide in their financial services advisory practice. Rajiv holds multiple degrees, including a masters of business administration degree in finance, a masters of science degree in labor economics and bachelors of arts degree in finance.