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- To calculate pay parity, you can use the following formula1:
- Log of [ { (average male salary- average female salary)/average male salary} x 100]
- Conduct a pay audit to detect pay disparities across demographics.
- Address any pay gaps.
- Create a compensation framework.
- Implement equitable policies.
- Prioritize inclusive hiring and promotion.
- Regularly review compensation framework.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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. ...
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