Josh Bersin on Pay Equity
Get expert guidance on how pay equity affects employee retention, how leading companies are executing their pay equity strategies, and more.
Josh Bersin names Syndio a leading pay equity tech provider.
In a time of high inflation and unprecedented levels of pay transparency, it's not just the level of pay that matters to workers, but the perceived fairness of pay.
Global HR analyst Josh Bersin's newest research1 on pay equity finds that "workers are six times more impacted by pay equity than they are by level of pay. In other words, if you want to properly allocate budgets, fix the disparities in pay before you give everyone a raise."
Only 14% of companies use specialized technology for pay equity.
And those that do are:
- 3.2 times more likely to engage and retain employees
- 7 times more likely to attract needed talent
Josh Bersin | The Definitive Guide to Pay Equity: Increasing Productivity, Innovation, and Sustainability2
Pay programs "must focus on equity above all"
Employees who don't understand why they're paid what they're paid are likely to be unhappy.
Josh Bersin | The Growing Role Of Pay In Employee Experience and Business Performance3
Pay equity helps retain top talent
"Our research shows that your ability to demonstrate fair and equitable rewards practices is now a requirement to attract and retain hard-to-find talent."
The Josh Bersin Company | HR Predictions for 20231
Pay equity must be ongoing
"This is not a one-time intervention. In 2023 it's important to revisit pay practices in a systemic way… Every time a new person is hired, promoted, or moved, your pay system may need adjustment."
The Josh Bersin Company | HR Predictions for 20231
Demystifying Pay Equity: What Really Works
In this in-depth report, Josh Bersin explains why pay equity is the most overlooked factor in employee retention, the five essential elements of pay equity, how to take a systematic approach to pay equity, and more. You'll also learn how American Airlines and Salesforce developed and executed their pay equity strategies.
A Pay Equity Discussion with Josh Bersin and Kathi Enderes
Learn the impact pay inequity has on the employee experience and company performance, how companies worldwide are responding to the demand for improved pay equity, and more, in this on-demand webinar featuring a discussion between The Josh Bersin Company's Josh Bersin and Kathi Enderes and Syndio CEO Maria Colacurcio.
The Pay Equity Tech Category is "White Hot"
Despite predicting an overall slowdown of the HR tech market in 2023, Josh Bersin expects the pay equity tech category to continue to grow and innovate — and names Syndio as a leading pay equity tech provider.
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
Syndio is your trusted partner
Syndio helps you measure, report, and find the causes of pay gaps in a single solution — faster, more securely, and with greater flexibility for ongoing analysis.
By connecting technology, data, and analytical expertise, we help you establish realistic goals and create an action plan that's tailored to your most pressing pay equity needs. And we give you real-time insights that guide in-the-moment decisions, so you can prevent equity issues before they start.
Start building a strategy to eliminate your pay gap.
Sources
1 The Josh Bersin Company, HR Predictions for 2023, January 2023
2 Josh Bersin, The Definitive Guide to Pay Equity: Increasing Productivity, Innovation, and Sustainability, April 2023
3 Josh Bersin, The Growing Role Of Pay In Employee Experience and Business Performance, November 2022