Best Pay Equity Software
Pay Equity Software is software that measures employee compensation and determines payment fairness according to market, industry, and government standards. In addition to compensation measurement, Pay Equity Software can measure employee cohort diversity, create pay policy models, and record retention. Pay Equity Software also usually offers risk and competition analysis, tracking, and visibility tools. Pay Equity Software automates compliance measurement in a number of ways, from compensation analysis to root cause identification and risk modeling...
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Unlike a point-in-time analysis, the PayEQ SaaS platform from Syndio headquartered in Seattle provides an always-on view of pay equity and real-time insights to guide fair pay decisions. With PayEQ, users may go from fixing pay issues to monitoring and preventing them.
Payfederate is a compensation platform for job pricing, range management, employee communications, and job offer management. Payfederate helps organizations to inspire confidence in their compensation, and hire with offers that fit. The trend toward transparent pay ranges, driven…
Parity Software is a cloud-based equal pay software that generates and stores printable job descriptions, automatically groups jobs of comparable character in accordance with the requirements of the Equal Pay Act, and uses data to uncover any pay gaps.
DCI Consulting's EEOPay provides accurate reports, user-friendly templates and enables EEO statistical models.
Peakon is an employee engagement application now from Workday (acquired August 2021) which emphasizes getting useful and actionable data from employee surveys, and with that as a goal includes features to ensure all employees are sufficiently included, that surveys do not induce…
Sysarb provides pay equity analysis, salary setting solutions and improving gender equality.
EquityPath software provides pay equity analysis. The platform combines clear graphics, sophisticated econometric models, and artificial intelligence to identify, measure, and correct potential wage disparities across races/genders among similar workers based on their pay records.…
Mercer's Pau Equity Analytics platform provides review and resolution of pay inequities reducing risk and increasing diversity.
Sentinel's Pay Equity regression tool is a customizable software solution that analyzes an organization’s current compensation levels for patterns, outliers or potential bias.
OutSolve is a provider of outsourced, OFCCP compliant affirmative action plans, audit preparation and compliance support.
The Pay equity revolution demands a new approach to managing compensation so that pay can be done right, to build trust with employees, and to win the war on talent. The CompAnalyst® Pay Equity Suite is designed to help users get there in an end-to-end solution.
beqom is a Total Compensation Solution for HR & Sales to lead, align and motivate their employees and partners. The beqom Total Compensation platform is used globally across all industry sectors by ove…
Decusoft Compose delivers compensation automation, supporting compensation planning, administration, and management with a secure, web-based centralized platform designed specifically for compensation professionals. From product design, service delivery, and product development, the…
Barley displaces spreadsheets and aims to bring organizations into proactive compensation management. Users can benchmark data, compensation reviews, total rewards portal, and pay bands in one place.
Trusaic’s PayParity is a DEI software solution that includes unlimited consulting and education. Coupled with real-time pay equity analytics and ongoing DEI monitoring, PayParity helps users to achieve pay equity, promote workplace transparency, and foster a more diverse, inclusive…
BigHand Impact Analytics, formerly known as Digitory Legal, combines strategic advice and change management expertise with AI-enabled data analytics to support legal billing data and turn it into a DEI success. The solution allows firms to identify opportunities for career advancing…
ADP® DataCloud is the company's workforce analytics tool, presented as an intelligent set of data analysis tools designed to help HR professionals measure, compare, predict and apply insights uncovered in ADP workforce data.
Learn More About Pay Equity Software
What is Pay Equity Software
Pay Equity Software is software that measures employee compensation and determines payment fairness according to market, industry, and government standards. In addition to compensation measurement, Pay Equity Software can measure employee cohort diversity, create pay policy models, and record retention. Pay Equity Software also usually offers risk and competition analysis, tracking, and visibility tools.
Pay Equity Software automates compliance measurement in a number of ways, from compensation analysis to root cause identification and risk modeling. Pay Equity Software can allow you to get direct feedback from employees through included survey construction and sentiment analysis tools. Pay Equity Software will also help reduce gender or racial pay disparities by automatically comparing employee compensation across cohorts, as well as in comparison with competition in the industry, and provide automated alerts and appropriate suggestions for your business. These lets you proactively address possible equity concerns before they become litigation or brand damage issues.
Pay Equity Software can be seen as a subset of Compensation Management Software with a more outward-facing, proactive approach. That is, Pay Equity Software analyzes market trends, federal regulations, and industry competition to inform data-driven outcomes. While Pay Equity Software can handle some compensation management tasks, it adds much more robust employee visibility tools that what you would find in Compensation Management Software, such as cohort identification and payment disparities across groups.
Pay Equity Software Features
Pay Equity Software typically include:
- Customizable routine payment monitoring
- Proactive analytics and insights
- Adjusted and unadjusted pay gap disparity monitoring, tracking, and trending
- Equal pay estimation and design
- Market competitive analysis
- Risk identification
- Systemic root cause identification
- Employee risk clustering
- On-demand specialist and expert consultation
- Cohort comparison and analysis
- Representation and diversity scoring
- Automated remediation strategy generation
- Cost and planning simulation
- Pay policy modeling
- Survey construction, deployment, and analysis
- Sentiment analytics
- Hiring, promotion, and retention tracking and analytics
- Automated federal standard compliance reporting
- Disclosure statement generation
- Job pricing and compensation support
- Performance evaluation tools
- Cloud-based, hybrid, and on-premises deployment options
Pay Equity Software Comparison
When choosing Pay Equity Software, consider the following:
Employee visibility tools. If you manage a large company, a Pay Equity Software’s ability to provide thorough cohort analysis will be a major point of consideration for you. PayAnalytics offers a wide range of grouping customizability, allowing for quick insight on payment across employee race, gender, or other demographic categories. Syndio PayEQ may be espe cially helpful for globalized companies because of its emphasis on international pay equity.
Compliance reporting tools. Depending on federal or industry standards for pay equity and salary transparency, you’ll want to make sure your Pay Equity Software makes this task easy for you. PayScale offers transparent salary market data options to ensure compliance. EquityPath’s Reduction-in-Force tool helps with ensuring that layoff and furlough actions are equitably designed and are less prone to litigation.
Competitive modeling tools. The ability to use diversity and inclusion as a branding tool can be a powerful competitive strategy. As such, you’ll want a Pay Equity Software that gives you insight into your competition and how their compensation plans compare to yours. Sentinel Pay Analytics not only compares your business to its competitors in real time, but also provides future compensation modeling services so you can stay informed on industry trends.
Analysis tools. The specific analysis tools a Pay Equity Software provides may be an important factor if you choose to use the software as a complement to another tool. For example, Affirmity offers robust statistical tools to measure a variety of quantitative data, making it helpful if you use other tools to capture survey data.
Pricing Information
Pay Equity Software products are usually sold as subscriptions tailored to meet the needs of the business, and thus vendors should be contacted directly for pricing quotes. Most vendors offer free demos.
More Resources
The following resources can be helpful choosing software focused on workplace equity: