Published: Dec 1, 2022Time to read: 1min Category: Recruitment
PeopleFluent’s Bright Lights: Meet Lori Smith, Vice President of Revenue
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Despite improving compensation practices, earnings disparities continue to exist between different gender and ethnic groupings. The United States Office of Federal Contract Compliance Programs (OFCCP) estimates that women earn only 76 cents for every dollar earned by men performing similar roles. The OFCCP also estimates Hispanic/Latino workers earn just 73 cents for every dollar earned by White workers, and there are additional gaps existing for other minority groups.
No business wants to be known for its compensation disparities. Conducting pay equity analyses can help encourage transparent compensation practices in your organization. Proactive analyses allow you to identify potential salary inconsistencies occurring in your business so you have an opportunity to make corrections and close pay gaps.
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