Wage & Compensation: Pay Equity Systems from Philosophy to Reality 2023

Description

Did you know that 49 of 50 states have enacted their own Equal Pay Act mandates since the federal law went into effect in 1963? For example, in Oregon, the Equal Pay Act went into effect in 2019, which states that every worker must receive equal pay for equal work, and employees must be paid the same amount as other people doing comparable work (including wages, bonuses, benefits, and more).

The burden is on the employer to show how pay decisions are made under this law. It’s a good thing, but it requires detailed work to ensure our wage and compensation programs are clear, fair, defensible, and, let’s not forget attractive and competitive to retain our top-notch talent. Phew!

Join HR Annie Consulting’s owner, Cindy Free, and Senior HR Generalist & Compensation Consultant, Heather Wall, as they share an overview of tools and strategies to build an equitable wage and compensation program, and how we can support this critical work.

Session Highlights

• Assessing your company’s pay philosophy, including the total compensation package you offer
• Determining the skills and experience needed to fulfill the functions of the jobs within the company
• How to source the current costs in the labor market for the positions
• Equity balance between each job or job category
• The financial ability of the company to pay for the jobs
• The ease of updating the structure over time
• Determining if you can do this internally or the benefits of bringing in a consultant to do this work

Note: This is a recording of a past HR Annie webinar and may include references to past events and updates. It is not eligible for SHRM or HRCI credits.