The encouraging news is that many companies are taking positive steps to close existing gaps and foster transparency, including:

Listing salary ranges within new job descriptions (81%).
Increasing salaries because of inflation and economic standard of living costs (68%).
Implementing a process for continuous feedback (67%).
Increasing pay to correct existing pay gaps and salary inconsistencies (65%).
Providing a clear structure for bonuses and performance review processes (65%).
Increasing salaries based on performance (65%).
Implementing companywide performance review processes (62%).
Offering more resources to help employees better understand their total compensation (61%).
Making executive pay visible and public knowledge (47%).
Disclosing the pay ratio for executive officers and median employees (29%).

"As the job market becomes more competitive, pay equity and transparency are crucial differentiators," Jansen said. "Our report revealed that there is still significant ground to cover. However, the progress, effort, and positive energy around pay equity integration are encouraging signs. Employers have myriad opportunities to demonstrate their commitment, unlocking and retaining talent. By understanding the job landscape trends and pay equity practices, organizations will be able to shape effective strategies that will benefit both the worker and long-term business goals."

From: BenefitsPRO

Instant Insights /

Pay Bias Hurts Hiring, but Many Companies Lack a Strategy

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