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  1. Pay Equity Analysis: The Essential Guide [With a Tutorial]

    • What is the primary goal of your pay equity analysis? To ensure you’re eliminating legal risks? To update your current pay practices and policies? To respond to shareholder demand? To eradicate pSee more

    Analyze Your Current Pay Policies and Practices

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  2. To calculate pay parity, you can use the following formula1:
    • Log of [ { (average male salary- average female salary)/average male salary} x 100]
    To achieve pay parity, you can follow these steps2:
    1. Conduct a pay audit to detect pay disparities across demographics.
    2. Address any pay gaps.
    3. Create a compensation framework.
    4. Implement equitable policies.
    5. Prioritize inclusive hiring and promotion.
    6. Regularly review compensation framework.
    Learn more:
    The formula is- Log of [ { (average male salary- average female salary)/average male salary} x 100] Which can be simplified as log of percentage of mean pay gap. When we receive the answer to this, we antilog the solution to go back to the real figure.
    www.hrkatha.com/features/three-ways-of-calculatin…

    How to achieve pay parity

    • Conduct a pay audit Before making a single change to your company’s pay strategy, the first step should be auditing your current framework as is. Try conducting apay equity analysisto detect pay disparities across demographics. ...
    factorialhr.com/blog/pay-parity/
     
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