Today is Equal Pay Day. And while we know the gender wage gap is much more complex than the often quoted 79¢ to the dollar figure, there’s currently a difference in men’s and women’s earnings any way you slice it.
To change the inequity, PayScale, a compensation software company, is taking aim at one source: company payroll. It’s new technology solution is designed to help companies compare employees’ salaries, no matter the size of the staff.
PayScale executive vice president Tim Low explains the data is exported from a company’s existing payroll system, then matches the actual pay to the talent market. Pay trends across gender, job type, or geographic locations are automatically established so organizations can immediately see which employees are falling below market and which are being paid fairly.