It’s time for part two in our intersectionality series—if you missed part one, check it out here!
In part one we discussed intersectionality and unconscious bias in hiring practices. But how do you ensure equality beyond recruitment and into the day to day? We think a structured compensation plan is key. The gender pay gap is a very hot topic now-a-days. Let’s shift the focus to the disparity between not only men and women, but men, women and women of colour, aka; intersectionality.
Build Smart
Building a fair compensation program is not quick and easy, but the results are worth it. Here’s how to start:
- Define the Compensation Philosophy. – Why and how people are paid,
- Compensation Analysis and Design. – Ensure market competitiveness and design compensation structures, and;
- Communication Strategy. – Strategic roll out of the new program to all stakeholders for successful implementation.
Once you have gathered the market data and determined where you want your organization to be you can then develop an internal framework and salary ranges for your organization.
Typically, each role is classified into groups, determined by genre, department etc (i.e. management, professional, sales, administrative, design, production etc..) and then salary ranges are designed for each group. The salary range should have:
- A midpoint (market rate) – employee meets the minimum requirements for the role and performs well,
- A minimum – employee does not meet all the minimum requirements for the role and/or requires more development, and;
- A maximum – employee meets or exceeds the minimum requirements for the role and/or is performing above average
The result of taking the time build a competitive compensation structure is that your team will know that regardless of their gender, race, national or ethnic origin, fair and equitable pay internally within your organization is guaranteed. Not only will help establish you as an employer of choice but it will also help with future recruitment. Additionally your people will be happier, stay longer and confidently know that they are working in a fair company! Phew!
Innovate for Change
In conclusion, being a ground breaker and a leader when it comes to innovating for change can be hard and rewarding. We know that combating discrimination by regulating hiring process and creating an intentional compensation structure, can both help you be a leader in your industry. In other words, you can set an example of ways in which we can advance gender equality and the empowerment of women of all races and ethnicities.