The PayAnalytics software solution is used by companies, municipalities and government institutions to support salary decisions. The solution calculates the gender pay gap, suggests remedies, and calculates the cost needed so that employers can budget for their investment in closing the pay gap. The software solution suggests salaries for new employees and employees who are moving into new positions to ensure that decisions are fair and free of unconscious bias before they are implemented.
The contract with The National University Hospital is important for PayAnalytics. First, because it is one of Iceland‘s largest employers, and second, because of the ambition that they have to eliminate the gender pay gap. PayAnalytics was founded to meet the demand of companies who wanted to reduce the pay gap but lacked the tools to do it in a fair and efficient manner. It has been shown that good intentions are not enough, so you have to use data driven methods to eliminate the pay gap.
says Sigurjón Pálsson, the CEO of PayAnalytics.
Using the PayAnalytics solution will make our steps towards the equal pay certification easier. We can now easily keep track of our equal pay analyses, and at the same time salary decisions become better because they are always based on up-to-date data.
says Lúvísa Sigurðardóttir, the Project Manager for the hospital’s Equal Pay System.