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"With the right tools, supported with the right data, we can bring about workplace transformation and pay equity."

In the latest issue of Dynamic Magazine, our founder Margrét shares valuable insights for leaders using data analytics or AI on their pay equity journeys.

In a recent blog post for the German HR magazine Trend Report, PayAnalytics Co-founder Margrét Bjarnadóttir explained how important it is to recognize the limitation of AI-based HR tools when making important decisions about hiring, compensation, promotions, and training opportunities. Even when workplaces do strive for equity, their data can still reflect historical biases and discriminate on the basis of ethnicity, gender, and class. Hence, to improve pay equity, companies need to find the right tools, identify where there are potential biases, and take the necessary steps to eliminate those biases.

Margret, our co-founder, Dr. Marie Louise Sunde, Founder and CEO of Equality Check, and Tuula Rytila, Corporate Vice President at Microsoft Digital Stores had an inspiring discussion on a panel on gender equity at the Nordic Innovation Summit two weeks ago. The panel was called "The Scandinavian DEI Paradox—Not So Paradoxical?" referring to the fact that while the Nordics consistently score at the top of every equality scale, women are still underrepresented on boards and in top management.

California, the first U.S. state to pass a law on pay data reporting, is considering proposed legislation taking the requirements of the original bill even further. Senate Bill 973 on pay equity was passed in September 2020 and requires large employers to provide data on employees by race, ethnicity, and sex in the ten job categories and pay ranges used by the U.S. Bureau of Labor Statistics. The first data reports were submitted to the Department of Fair Employment and Housing (DFEH) in March 2021.

VÍS, the largest insurance company in Iceland, offers comprehensive insurance solutions in the consumer and corporate sectors. They have close to 200 employees, mainly in Reykjavik and in different field offices around the country.

Pay transparency has been regarded as an essential device to address and close pay gaps resulting from demographics, such as gender and race. New legislation, worldwide, aimed to address the gender pay gap - has in common an emphasis on more transparency in pay and pay decisions.

On December 3, 2021 Italy signed a new equal pay law (Law 162/2021) that seeks to tackle the pay gap between men and women and encourage the participation of women in the labor market. The law introduces some important amendments to the Italian Equal Opportunity Code (Legislative Decree 198/2006), which prohibits all direct and indirect remuneration discrimination for the same job or a job considered as having the same status. The new law, focusing on transparency and rewards, is consistent with the Italian National Recovery and Resilience Plan (PNRR), which contains, among other things, a National Strategy for gender equality for the years 2021-2026.

Margret spoke with Al Adamsen, the host of People Data for Good, in a recent episode about Pay Equity, Algorithms, Neutrality of Data and AI.

Harvard Business Review just published this article, which is written by two of PayAnalytics' founders, Professors Margrét Bjarnadóttir and David Anderson, along with Professor David Gaddis Ross. It discusses how automation is changing HR and what we need to be aware of when applying Automation and AI in People Analytics.

The PayAnalytics platform is designed to support your pay equity journey every step of the way. In the last few months, we have added several new features that advance this goal.

Það gleður okkur hjá PayAnalytics alltaf sérstaklega að fá fréttir af framúrskarandi árangri viðskiptavina. Á dögunum hlaut tryggingafélagið Vörður Hvatningarverðlaun jafnréttismála 2021 með áherslu á kynjajafnrétti. Verðlaunin eru veitt árlega til fyrirtækis sem stendur sig vel þegar kemur að jafnréttismálum og veitir öðrum innblástur til að gera slíkt hið sama. Við óskum starfsfólki Varðar innilega til hamingju með árangurinn.

Einn af stofnendum PayAnalytics, Margrét Vilborg Bjarnadóttir, mætti í Morgunvaktina á Rás 1 í morgun og spjallaði við þau Björn Þór Sigbjörnsson og Guðrúnu Hálfdánardóttur. Hún talaði um launajafnrétti, vegferð PayAnalytics og um nýlega 450 milljón króna fjárfestingu Eyris Vaxtar og Nýsköpunarsjóðs í PayAnalytics. Hún fór yfir hvernig fjárfestingin verður nýtt til að mæta mikilli eftirspurn með því meðal annars að tvöfalda þróunarteymið og byggja upp alþjóðlegt sölu- og markaðsteymi.