We are happy to announce the investment of The New Business Venture Fund in PayAnalytics | Read the press release here.

PayAnalytics

Newsroom

In the PayAnalytics newsroom you have an overview of the latest news on PayAnalytics, articles where we are featured as well as our media gallery. You can also follow us on Twitter, LinkedIn, Instagram and Facebook, or sign up for our newsletter.

How data and analytics are essential to the process of closing pay gaps — a blog post for PRCA

In a recent blog post for PRCA PayAnalytics Co-founder and Chairman Margrét Bjarnadóttir explains in a nutshell how data and analytics are essential to the process of closing pay gaps – and keeping them closed. She explains, among other things, the two types of pay gaps most commonly mentioned in the press and the difference between the two. The blogpost also embeds a video where Margrét amongst others discusses the role of ethics and fairness when closing pay gaps. The discussion was a part of the PRCA Ethics month.

Margret Bjarnadottir wrote for Ms. Magazine: We're Not Waiting 200 Years to Close the Gender Pay Gap

The World Economic Forum estimates that it will take over 200 years to close the gender pay gap. No one should have the patience to wait that long. How can we accelerate change? The answer may lay in data and models with a good dose of transparency.

The journey starts with gathering the data and understanding the pay structure. Then companies move on to identifying areas for improvement and eliminating unexplained demographic pay gaps through corrective action—in other words, ensuring equal pay for equal work.

The New Business Venture Fund Invests in PayAnalytics

The New Business Venture Fund has invested $525,000 in the software company PayAnalytics.

PayAnalytics has developed an equal pay cloud solution, and has grown rapidly in recent years. Its solution is already helping over 50 companies and organizations in Iceland close the gender pay gap, employing a total of 30,000 staff, or about 14% of the Icelandic labor market.

42% of organizations are planning for pay equity adjustments in 2020

42% of organizations are planning for pay equity adjustments in 2020 according to the recently published @WorldatWork 2019-2020 Salary Budget Survey. Is yours one of them? PayAnalytics can help. Our customers use PayAnalytics to assist them in every step on the way towards a transparent and fair pay structure. Our software solution recommends individual raises to close the gap, quickly detects outliers, gives an overview of the cost to help with the budgeting, and so much more.

Addressing Demographic Pay Gaps with Data-driven Solutions | guest feature for insideBIGDATA

Dr. Margret Bjarnadottir (@mvilborg2) from @payanalytics recently wrote a guest feature for @insideBigData about addressing demographic #PayGaps with Data-driven Solutions.

Demographic pay gaps, including the gender pay gap, are the result of more complex factors than just a desire to minimize payroll expenses. They stem from unconscious biases and processes that are better suited to one group compared to another. And, as multiple executives have found out, good intentions and “mindfulness” are not enough to eliminate the gaps.

Why Companies' Attempts to Close the Gender Pay Gap Often Fail

PayAnalytics co-founders David Anderson and Margrét V. Bjarnadóttir wrote an article together with Cristian Dezso and David Gaddis Ross for Harvard Business Review about closing the gender pay gap.

Gender pay equity has become a big point of contention at many companies. Not only have politicians and other public figures spoken out against the gender pay gap, but there has also been a rising tide of high profile lawsuits targeting major employers, most notably in the U.S., with all the bad publicity and financial liability they entail.