Ensure Equal Pay For All with These Best Practices
Local Experts Offer Unique Payroll Services
Being conscious of equality is a positive trend in many workplaces, and changes in recent years have gone a long way toward achieving fairness for all. As we strive to continue making progress toward equality for all in the business world, the topic of payroll is discussed often.
As a payroll services company, we’re proud to be on the forefront of equal pay action. We offer payroll processing for companies of all industries and sizes, and we have the skills, experience and software to take on the unique needs of your business. We work with companies in our home area of the East Bay, as well as other businesses from across the nation.
Payroll equity is important to us, and we wanted to take this opportunity to discuss a few tips you can use in your workplace which can foster a culture of equality. We hope these tips can provide fresh insight for your business, and if you need customized payroll assistance as well then our team of pros is here to help.
Make Data Driven Decisions
Having business data at your fingertips allows you to make informed decisions in any area of planning for your company, and deciding how to allocate payroll, raises and advancement opportunities should be no different. Not only does tying rewards in the workplace directly to data-driven key performance indicators help ensure equity among your team, it ultimately allows you to put your company in the best place to perform at a high level.
Create a Payroll Policy
Each aspect of your payroll policy should be written down, visible to your team and followed exactly. If you don’t have a payroll policy or your current policy is lacking, taking the time to craft one which promotes payroll equality should be a must. When crafting this policy, metrics like performance, frequency of audits and what qualifications are necessary for advancements and bonuses should all clearly be spelled out.
Audit Your Payroll
Auditing the amount of money each team member is paid and comparing it to other team members in your company and with data from comparable businesses is the best way to catch discrepancies in payroll equity. By making regular audits part of your payroll process, you take another step in ensuring no bias or favoritism is being shown without merit.
Practice Pay Transparency
Recent legal action has made it a requirement for employers to post salary ranges on open positions in many states, but you don’t have to wait for legislation to begin practicing payroll transparency. While we aren’t suggesting every single employee salary should be public knowledge, what would be beneficial is for everyone in the company to understand the range for a given position, what impacts where someone falls in said range and how bonuses and advancement opportunities are earned. By being transparent, it’s much harder to be unequal.
Partnering with a payroll company can help you practice payroll equity and allow your business to reach new heights. To learn more about our services, visit our website or give us a call to get started today.
