To Proactively Manage Pay Equity, Companies Must Take These Three Steps



Pay equity is arguably one of the most important compensation conversations of our time, spanning firms of all sizes, industries, maturity levels, and geographies. While some organizations face systemic pay equity challenges, others see more pronounced risks in specific pockets of the business, such as job families, functions, or regions. And with the increasingly competitive talent market, financial services firms have never faced more competition in attracting and retaining key employees. Adapting longstanding practices, navigating a complex regulatory environment, and addressing gender parity in pay will be a massive challenge; however, regardless of the complexity or pervasiveness, financial services must take a proactive, ongoing approach to tackling pay equity through systemic and sustainable strategies. Here are three steps to help you get started.

 

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