Nearly half of businesses acknowledge that their approach to pay equity hurts their ability to attract talent. Nevertheless, one-third do not have a pay equity strategy in place, and 54 percent doubt that their company complies with global standards.
The 2024 Pay Equity Report from compensation platform beqom surveyed salary and compensation decision-makers in the United States and the United Kingdom to compare how companies approach pay equity.
"Our survey shows employers grapple with addressing wage discrepancies and promoting fair compensation," said Tanya Jansen, the company's co-founder and chief marketing officer. "They understand the urgency in confronting wage gaps but find themselves navigating a complex web of regulatory requirements and stakeholder demands."
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