A powerful solution to deliver equal pay
Employers have been struggling to find an easy and quick way to test for pay disparities in the face of increasing regulatory scrutiny, disclosure requirements and employee questions. Getting it right is important. It is essential to your employee experience, your regulatory responsibilities and to reducing legal risk.
To meet these needs, we have a new and exciting component to our pay equity solution suite. We are combining the best in pay equity analytics software with deep pay management expertise, though our partnership with Syndio. The combined solution provides you with a powerful new way to address issues related to pay equity and fair pay – seamlessly and efficiently.
Advanced analytics, in seconds
Syndio’s market-leading technology supports the following analyses:
- Pay equity: Comparing the pay between people doing substantially similar work by gender, race/ethnicity, age, or any other groups you create.
- Pay gap: Comparing the average pay between people across all groups.
The software is:
- Fast: Advanced statistical analyses in seconds.
- Effective: Actionable insights on individual and broader pay management.
- Iterative and ongoing: Instant update for new data or different data choices.
- Easy: Designed by practitioners for practitioners.
We use the enhanced analytical capabilities to reach quicker and more informed outcomes:
- Individual corrective actions – optimal adjustments to close equal pay gaps and meet budget constraints.
- Improvements to pay program design, practices or manager training – with impact easily tracked.
- Alignment of compensation and talent programs – to support equal opportunity along with equal pay.
- Increased pay transparency – improving the understanding and confidence of employees in their pay.
The solution is initially available to Willis Towers Watson clients in the U.S., the U.K. and Europe.
Pay gaps are one of the critical challenges that organizations and their HR functions face today. We're excited that our collaboration with Syndio can help eradicate workplace pay disparities, leading to higher retention rates, a stronger corporate culture and greater profitability.”Mark Reid | Leader, Global Rewards, Willis Towers Watson