PayParity Platform Facilitates Employer Transparency, Identifies Pay Disparities, and Uncovers Key Insights for Fostering a More Diverse, Equitable, and Inclusive Workforce
Trusaic, a leading innovator in data solutions for regulatory compliance, today announced the availability of its PayParity software solution. This offering provides a comprehensive solution to Diversity, Equity, and Inclusion (DEI), combining human subject matter experts with powerful tracking and analytics software for ongoing monitoring and advancement of DEI initiatives. Specifically, it’s the first and only monthly monitoring solution – via secure data integrations with client human capital management (HCM) systems – that provides all-in-one analytics around pay equity, diversity, inclusion and hiring and promotion equity.
In continually addressing the rapidly evolving landscape, Trusaic combines state-of-the-art data, analytics, and regulatory expertise to help companies achieve pay equity. The new software-based solution also provides monthly monitoring to easily track and demonstrate real progress against DEI goals and initiatives, as well as expert support so organizations can confidently disclose their DEI metrics. Trusaic’s pay equity auditing and DEI monitoring reduces risk, while creating a proactive approach for achieving DEI goals.
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With the PayParity platform customers can:
- Gain a detailed understanding of current pay disparities and potential remediation strategies for a global workforce
- Receive analytics on their diversity score, representation, and pay quartiles
- Understand and facilitate equal opportunities across hiring, advancement, and promotion across the entire workforce
- Review sentiment analytics from employees on belonging, diversity, upper management, harassment, recruitment, and advancement programs
- Account for various country and state specific requirements
- Receive DEI consulting for meaningful impact and change
“DEI metrics reporting is increasingly being demanded by not just regulatory bodies, but also shareholders, investors and even potential employees who expect companies to be actively and meaningfully tracking their DEI commitments and showing improvement, ” said Robert Sheen, CEO and founder of Trusaic. “Organizations that proactively monitor their pay gaps and disparities with pay equity audits reap the benefits of having the necessary level of insight into their workforce needed to create real change. We’re proud to provide businesses with the opportunity to cultivate a more positive, inclusive environment.”
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The PayParity platform includes a hiring and promotion analysis that reviews opportunities for all positions and by protected classes to uncover hiring rates across demographics, rate of promotion opportunities and demographics of employees currently or previously in positions with promotion opportunities, among other insights.
Trusaic’s PayParity platform provides organizations with what is needed to disclose DEI reporting that aligns with the Sustainability Accounting Standards Board (SASB), Integrated Reporting (IR), and Global Reporting Initiative (GRI) frameworks
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