Learn the requirements and regulations when identifying equal pay and the best approaches to ensure you stay compliant.
Pay equity has surfaced to be a critical topic, particularly as part of the broader focus on diversity, equity, and inclusion efforts in companies. Additionally, recent events in the labor market, macroeconomy, and the legal landscape are all contributing to heightened scrutiny around pay equity. However, there continues to be misconceptions around what pay equity means and what is involved when companies perform a pay equity audit. As a result, many companies either hesitate to perform a pay equity analysis, or perform the analysis simply to check the box, without leveraging all the benefits it provides. This presentation explains the opportunities and risks of performing a proactive pay equity study, highlighting the key elements that drive a successful pay equity study in the US. This discussion aims to help human resources & compensation professionals and leaders gain knowledge and confidence to embark on a pay equity study and drive sustainable progress in their organizations.
Learning Objectives
- You will be able to explain how a statistical pay equity audit works and differentiate between adjusted and non-adjusted pay equity results.
- You will be able to identify the key elements required for a successful pay equity audit.
- You will be able to recognize the key opportunities and risks involved in performing a pay equity audit, which can help inform decision-making as you consider doing pay equity audits for your organization.
- You will be able to review the key legal framework underlying pay equity laws in the US and gain an understanding of the legal risks that you need to manage against.
Agenda
Overview of Pay Equity
- Introduction to Pay Equity
- Adjusted vs. Unadjusted Pay Gaps (and Why Each Measure Is Important)
- Importance of Performing Proactive Pay Equity Audits
- Examples of External Disclosures on Pay Equity
Overview of State-Level Pay Equity Laws in the Us
- Overview of Federal and State Level Requirements That Inform Pay Equity Assessments
- Benefits of Performing a Proactive Pay Equity Audit.
- Key Legal Risks to Manage
Key Elements of a Successful Pay Equity Audit
- Overview of How a Pay Equity Audit Is Conducted
- Key Elements of a Successful Pay Equity Audit
- Buy-in From Senior Leadership
- Legal Privilege
- Key Data Requirements
- Robust and Thoughtful Analysis Methodology
- Identifying Root Causes of Issues That Are Identified
- Developing Short-Term and Long-Term Solutions
Wrap-up and Questions
- Recap on Opportunities and Risks of Performing Proactive Pay Equity Audits
- Ongoing Monitoring of Pay Equity Results (Discussion of How Human Capital Challenges and Evolutions in the Labor Market Impact Pay Equity)
Speakers
Therese Sebastian, CEP,
Equity Methods- Director, Equity Methods
- Subject matter expert on pay equity analysis, executive compensation strategy, and stock-based compensation valuation
- Speaking/Teaching accomplishments in your area of practice: Speaker on pay equity topics in various conferences including WorldatWork and Equilar
- Author of the following pay equity articles published in Workspan and Equity Methods website
- Workspan Article: The Root of the Problem: Weeding Out Pay Inequities
- Article: Navigating Illinois’ Equal Pay Registration Certificate: Practical Steps to Pre-pare
- Article: What to Expect from a Pay Equity Study
- Article: 5 Key Questions for Pay Equity Remediation
- Membership information: Certified Equity Professional
- Education information: Bachelors of Science in Management Engineering from Ateneo de Manila University, MBA from University of Arizona
Saswati Sen,
Equity Methods- Manager, Equity Methods
- Subject matter expert on pay equity analysis and stock-based compensation valuation
- Speaking/Teaching accomplishments in your area of practice: Speaker on pay equity topics in various conferences including WorldatWork
- Author of the following pay equity articles published in Workspan and Equity Methods website
- Workspan Article: The Root of the Problem: Weeding Out Pay Inequities
- Article: Equity Methods Survey Reveals Contemporary Trends in Pay Equity
- Article: Statistics 101 for Pay Equity
- Article: Five Big Questions Boards Are Asking about Diversity, Equity, and Inclusion
- Education information: Master Of Business Adminstartion, Pune India, MS Finance from Portland State University
Who Should Attend
This live webinar is designed for human resource and payroll professionals, business managers, office managers, presidents, vice presidents, CFOs, bookkeepers, controllers, accountants, and attorneys.
