In a previous guide, Seramount outlined emerging trends, legal requirements, and best practices that drive global pay equity strategies. Pay equity, an increasingly common corporate practice, assesses whether employees with similar job functions, experience, and reviews should receive comparable pay, usually focusing in the US on gender, race, and ethnicity. Equal pay has been shown to promote a positive work culture because employees are more likely to perceive their workplace as fair, which in turn can support engagement, productivity, and retention. Also, as more companies are strengthening their environmental, social, and governance (ESG) programs, pay transparency may become one of the key components for achieving pay equity goals
