International Equal Pay Day is celebrated annually on September 18^th. This day recognizes the ongoing efforts to achieve equal pay for work of equal value. This process is essential to help end discrimination against women and girls.

You can honor International Equal Pay Day by providing salary transparency and equal pay for all employees within your organization. If you need to verify that your HR salaries fall within the appropriate range, you can request our Salary Survey by emailing HRSalarySurvey@arlingtonresources.com.

Discover how salary transparency promotes equal pay for all.

Definition of Salary Transparency

Salary transparency involves clear communication of salary practices. This process includes how salary ranges are determined and accurate disclosures of salaries and salary ranges for all roles.

Implementing transparent salary practices helps close the gender pay gap. These activities provide equitable and fair compensation for all employees.

Importance of Salary Transparency

Payscale’s 2024 Gender Pay Gap Report found that women collectively earn an average of 83 cents for every dollar that men earn, regardless of occupation, experience, education, or other compensable factors. Because women collectively earn 17% less than men, there is an economic power disparity between women and men in society. Therefore, higher-paying roles are disproportionately accessible to men compared to women.

Salary transparency helps close the gender pay gap by holding companies accountable for salary disparities. As a result, employers are likely to offer women fair salaries. Also, women have an easier time negotiating fair salaries.

Benefits of Salary Transparency

Providing salary transparency strengthens your company’s reputation as an employer of choice. Promoting equal pay for all employees elevates employee engagement, productivity, and job satisfaction. These factors strengthen employee morale, attraction and retention rates, and the bottom line.

Guidelines to Provide Salary Transparency

You can use the following guidelines to provide salary transparency:

1. Conduct a pay equity audit: Analyze employee salaries to uncover salary disparities. Then, develop and implement strategies to address the disparities.
2. Create a wage transparency policy: Clarify how salaries are shared with employees and which information is publicly available.
3. Train managers on fair pay practices: Include methods to remain fair and transparent during salary negotiations.
4. Align pay bands and salary ranges with your competition: Ensure salaries are fair and consistent across positions and seniority levels and align with industry standards and legal requirements.
5. Remain current on legal requirements: Monitor changes to laws and regulations to ensure your company’s salary transparency policies and practices maintain compliance.

Would You Like Additional Guidance on Salary Transparency?

Salary transparency promotes equal pay for all of your employees. Being accountable for salary disparities encourages your company to offer women fair salaries and help women negotiate fair salaries. These factors strengthen job satisfaction, employee morale, and attraction and retention rates.

Arlington Resources can provide additional guidance on salary transparency to help keep your company competitive. Find out more today.