Workplace equity
is impossible
In the face of widespread economic uncertainty, HR leaders worldwide are struggling with restricted budgets, hiring freezes, and even layoffs. But you're likely finding yourself in a tough spot: Although you have limited resources, you still have pressure to close your pay gap and meet representation goals.
Tangible progress starts with workplace equity.
Despite good intentions and widespread investments in building more diverse and equitable organisations, progress is moving at a glacial pace. Women overall still earn less than men. Women's gross hourly earnings are on average 13% below those of men in the European Union.1 In the UK, the gender pay gap among full-time employees in April 2022 was 8.3%.2 And the pressure is on for both UK and European-headquartered companies to not only make progress, but prove it publicly.
EU equal pay and transparency directive
The new EU Directive will require a full mindset shift with new requirements for pay and career progression transparency and public gender pay gap reporting.3
EU law on gender balance on corporate boards
By 2026, listed EU companies will need to have at least 40% of the underrepresented sex among non-executive directors or 33% among all directors.4
Draft EFRAG Sustainability Reporting Standards
The European Financial Reporting Advisory Group (EFRAG) recently released draft ESG reporting requirements for companies operating in the EU.5
Truly equitable workplaces get two things right to close their pay gaps: equal pay for equal work and equal access to opportunities. They're using data and analytics to find and fix the root cause of inequities — and they're mapping those efforts directly to closing their unadjusted pay gaps over time.
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01Step
Measure representation and benchmark against available talent to set realistic, data-driven goals.
02Step
Analyse both pay equity and opportunity equity to uncover your biggest areas for improvement.
03Step
Resolve your adjusted pay gaps and systematically address the drivers of your unadjusted pay gaps.
04Step
Monitor progress over time.
How data can solve your top workplace equity challenges
A Workplace Equity Analytics Platform gives you the insights and agility needed to pivot and meet every moment as it comes and tackle some of your toughest challenges.
Challenge #1
I don't have complete/clean employee data.
Get the facts >
Syndio's technology and team of experts can help you impute your data and work around data gaps to perform pay equity and opportunity equity analyses.
Challenge #2
My pay equity analyses take too long and are quickly outdated.
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A Workplace Equity Analytics Platform speeds up pay equity analyses and gives you a current view throughout the year.
Challenge #3
Representation goals have been handed down from leadership, but I have no clear action plans or timelines for making progress.
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A Workplace Equity Analytics Platform pinpoints your biggest areas for improvement and shows you how to attain goals sooner with targeted efforts.
Challenge #4
I don't know what our representation goals should be.
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A Workplace Equity Analytics Platform uses benchmarks to identify gaps and set data-driven diversity goals.
Challenge #5
My team lacks the expertise to analyse, resolve, and report on workplace equity issues — and I don't have the budget to hire.
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A Workplace Equity Analytics Platform handles analyses and surfaces insights so they are easy to understand, action on, and share - and is typically more affordable than headcount.
Challenge #6
We have pay disparities that reappear every year.
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A Workplace Equity Analytics Platform provides proactive insights and in-the-moment recommendations that prevent pay and opportunity equity issues from forming.
Challenge #7
Women or people of color are underrepresented in leadership, but we're struggling to hire external talent into these roles.
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A Workplace Equity Analytics Platform identifies disparities in internal movement (including promotions, assessments, and retention), helping you address the root causes of opportunity gaps.
Challenge #8
Our efforts to improve representation, opportunity, and pay equity are siloed and disconnected.
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A Workplace Equity Analytics Platform gives you a single source of truth for all facets of workplace equity.
Resource Bundle
Be prepared for EU pay transparency requirements
Meet the increased pay transparency and reporting demands in the new EU Directive on Pay Transparency with the help of a communications playbook, legislation cheat sheets, and more.
Your trusted workplace equity partner
Syndio helps you measure, prioritise, and report on all facets of workplace equity in a single solution — from improving representation to paying, promoting, and retaining employees equitably. By connecting technology, data, and a team of experts, we help you establish realistic goals and create an action plan that's tailored to your most pressing workplace equity needs. And we give you real-time insights that guide in-the-moment decisions, so you can prevent equity issues before they start.
What [Syndio is] doing — which is very pioneering — is giving leaders and HR departments near real-time data on the equity implications of every pay, reward, hiring, and promotion decision."
Josh Bersin
Global HR industry analyst
Start building an equitable workplace.
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Reach out to your Customer Success Manager to learn more.
Sources
- European Commission, The gender pay gap situation in the EU
- Office for National Statistics, Gender pay gap in the UK: 2022, October 2022
- Syndio, EU Pay Transparency Cheat Sheet, January 2023
- European Commission, Gender Equality: The EU is breaking the glass ceiling thanks to new gender balance targets on company boards, November 2022
- EFRAG, EFRAG delivers the first set of draft ESRS to the European Commission, November 2022