The findings of a new study revealed that 74% of executives consider pay equity a moderate or high strategic priority and 71% of employees also think it is an important priority for their company. Yet only 41% of workers believe their employers have successfully mastered pay equity; and 26% indicated that their organizations has been totally unsuccessful in ensuring equal pay for equal work.
Among other findings:
- Nearly half of executives (47%) said the CHRO is primarily responsible for ensuring pay equity, while just 6% of employees think this should be handled by this individual. Over a third (37%) of employees said the CEO should be primarily responsible for addressing pay equity.
- Employers reported that most of their pay equity efforts are directed toward: women (59%), people of color (55%), ethnic minorities (45%), members of the LGBTQ community (33%), and people with disabilities (23%).
- 40% of white men said their employer has achieved pay equity in the organization, versus just 25% of women overall, 23% of Black women, 22% of Hispanic men, and 16% of Asian women.
- 35% of Black workers say that discrimination in opportunities for advancement is the greatest contributing factor to pay disparities while most white workers (24%) said the biggest reason for inequities involves differences in salary-negotiating abilities.
