PayAnalytics recently developed a feature for job evaluation, allowing you to create a framework to compare different jobs and employee characteristics based on evaluation factors that constitute value in your organization. Job evaluation therefore allows you to compare jobs that may differ in nature but bring the same or similar value to your organization. In short, this feature helps you ensure equal pay for work of equal value.
Multiple currency support and scaling of part-time employees
Structuring your data to make it suitable for an equal pay analysis should be as pain-free as possible. PayAnalytics has never required a specific template but has instead been flexible with respect to the structure of the data and the content included. We have now taken several additional steps to further simplify data preparation for our users.
- If your organization has part-time employees, PayAnalytics can now automatically scale relevant compensation components to 100% and use the scaled amount in your analyses.
- If you are in a multinational organization that uses more than one currency, PayAnalytics simplifies any conversion needed. By defining exchange rates for the relevant currencies, you can upload and analyze data that includes multiple currencies. Furthermore, you can view your data and the results of analyses in any currency of your choice.
Editing your data in PayAnalytics
You can now edit your data directly in the system before running an analysis. This new capability allows you to easily update data that you know is outdated, add data for new employees, remove data for employees who have left, or modify the parameters for current employees (e.g., those changing positions within the organization). PayAnalytics keeps track of all the changes you make.
Detailed user access controls
To truly reach pay equity, equity considerations must factor into every salary decision, so PayAnalytics is used by staff in many diverse roles (e.g., recruiters and country and department managers). We have now added detailed user access controls so you can make sure that users only have access to those parts of the system that are relevant to them. For example, a department manager’s access can be restricted to only the employee-specific data for a particular department. Similarly, a recruiter can be allowed to get salary suggestions for new hires without having any access to the underlying data.
If you are interested in knowing how these new features, or existing ones, can assist you on your pay equity journey, please book a demo.