CURO Compensation Enhances Pay Equity Solution with New Hire Fair Pay Check
Latest Update Facilitates Pay Insights from the Point of Hire
CURO Compensation Limited (CURO), an industry leader in total compensation management and pay equity technology, announced the introduction of Fair Pay Check for New Hires feature to its CURO Pay Equity solution.
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Developed to identify pay gaps, CURO Pay Equity gives organizations insight into the drivers of pay inequity. With a line of sight into any underlying issues, organizations can move to mitigate risk, protect the brand and champion diversity and inclusion across the workforce through equal pay.
“Many pay equity issues come from how an organization sets pay at the time of hire, making it possible to introduce problems that get amplified over time,” explained Ruth Thomas, co-founder and senior consultant at CURO. “A best practice for employers is to complete a fair pay check at the hiring stage. CURO’s latest feature allows a custom query to be generated to identify the fair pay range for a position. This helps the organization understand the impact of the new hire’s proposed salary on the team’s overall pay gap. The functionality can be applied for internal transfers and promotions as well.”
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The Fair Pay Check feature is part of the September CURO Pay Equity product release, which also includes the ability to upload salary range midpoint and market data benchmark values for use in Cohort Analysis. This latest update further enhances CURO Pay Equity’s ability to support a complete pay equity analysis.
Thomas continued, “Some organizations, as part of their pay equity analysis, want to include other reference points to inform potential pay remediation decisions. Understanding how an employee, flagged for pay remediation, sits relative to a benchmark like the salary range midpoint helps to contextualize decisions that statistical analysis alone does not always reveal.”
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