How can HR and finance leaders ensure not only that every person in their organization is paid an equal wage for equal work, but also that everyone is rewarded fairly, and without bias, for their discretionary effort? This question weighs heavily on the minds of those responsible for making decisions about equitable pay.
In 2019, we surveyed more than 3,500 full-time workers across the United States, Canada, Ireland, and the United Kingdom.
One in four respondents said they felt discriminated against at work, which occurs because of:
•Unconscious and conscious biases
•Ingrained HR, talent management, and reward and recognition practices
While there is no simple solution for mitigating bias, a modern total rewards strategy can be a smart step in the right direction. A global, peer-to-peer recognition and reward platform can show the volume of recognition and average award value by gender and ethnic group, giving companies insight into potential biases.
Tackling the pay equity gap begins with empirical data just like this – and will help shape the future of work into one that works for everyone.