Elevance Health Uses Pay Finder™ to Maintain Equitable Pay for Every New Hire
We are leaders in our industry and we want to be leaders in pay equity."
Maintain equitable pay
Ensuring consistent, equitable pay for every new hire
Syndio's Pay Equity Platform PayEQ®, Syndio's Pay Finder™, and Syndio's Elite Consulting
- 25% reduction in pay equity remediation costs
- 6% decrease in time to fill roles
- 6% increase in offer acceptance rate
- Increased trust and improved employee brand
reduction in pay equity remediation costs
increase in offer acceptance rate
Increased trust and improved employee brand
decrease in time to fill roles
When generating offers, Elevance Health always took internal pay equity into consideration, but managers had limited access to enterprise information. Managers could only look at individuals who reported to them or within a single geography but didn't have statistical analysis based on employees doing substantially similar work more broadly across the company to determine what was equitable and guide their pay decisions.
"Managers didn't know what they didn't know," says Swanlund. As a result, managers would propose offers that were competitive with market rates, but not always in line with internal pay equity. Elevance Health sought a solution to get managers and recruiters in sync with the compensation team to deliver competitive offers that don't create new pay disparities.
This is game changing. Pay Finder informs the conversation between recruiters and hiring managers, guiding the right decisions; it's a partnership. For candidates, you can see them become more at ease and comfortable continuing the conversation because pay is no longer a question. And employees know that we've taken appropriate steps to be fair and equitable."
The transformation over the last two years — including the comp team's partnership in the recruitment process and the implementation of Pay Finder — is already delivering results that impact the business.
The data that Pay Finder provides helps me clearly explain why we pay what we pay and supports fair offers for both internal and external talent."