Pay equity, an increasingly common corporate practice, assesses whether employees with similar job functions, experience, and reviews should receive comparable pay, regardless of gender, race, or ethnicity. As the number of laws requiring companies to address pay inequity grows, as well as employees’ concerns, employers will need to determine approaches to pay equity to ensure their company meets legal requirements in their operating jurisdictions, implements fair pay practices, and communicates findings with employees to create a fair and honest work environment.
