As a recruitment consultant, it’s essential to recognise that pay transparency is no longer just a trend—it’s a critical factor in building a fair and inclusive workplace! 💌
When companies are open about compensation, it helps close the gender pay gap, fosters trust within the team and promotes a culture of transparency and accountability.
Embracing pay transparency not only ensures compliance with the Workplace Gender Equality Act 2012 (Cth) but also elevates an organisation’s position as a leader in diversity, equity, and inclusion (DEI).
This approach strengthens employee morale, improves retention rates, and makes an organisation more attractive to top talent while aligning with broader environmental, social, and governance (ESG) objectives.
This comprehensive whitepaper by HRD is an invaluable resource for HR leaders and executives who want to leverage pay transparency strategically. It explores how integrating pay transparency with your DEI efforts can drive commercial success and sustainable gender equality performance.
In a nutshell, this case study with risk experts Aon and data centre design beasts AirTrunk explores the issue and solutions in detail as AirTrunk were looking for support with an approach that did not focus solely on remuneration processes, but also on gender balance in terms of their total population and management.
“We wanted to gain insights into our data, to go beyond the calculation of a raw gender pay gap and overlay the many factors that contribute to gender pay equity to ensure we make fully informed remuneration decisions.”
– Chief People Officer AirTrunk, Emma Spence
Aon worked with AirTrunk to deliver the data to support the SLL KPIs and the broader goal of moving towards pay equity. And to provide independent verification of AirTrunk’s adjusted gender pay gap to support the successful SLL restructure.
One key takeaway was looking at calculating the raw gender pay gap to understand how other factors – intended or unintended – may be driving like-for-like pay gaps. Super interesting stuff!
Keen to obtain practical advice and steps to implement pay transparency in your organisation? This whitepaper is integral! 🚀
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