The median pay gap is gaining support as a standard equity benchmark. This session gives step-by-step guidance for understanding, communicating about and closing the median pay gap, while ensuring your company’s compensation practices are fair to all. We break down the gap into three parts: an “all-else-equal” gap, a gap based on variance in representation across jobs, and a gap based on variance in other attributes. You’ll learn advantages and drawbacks of the median pay gap as a measure, plus tips for promoting pay equity when hiring, promoting and retaining workers.
• Apply this understanding to help meet your own organization’s pay equity goals.
• Evaluate the common pitfalls of using each component of the median pay gap.