Pay Equity Explorer from ADP Helps Organizations Attract Talent

March 21, 2017         By: Mike Dautner

Companies are scrambling to prepare for new U.S. government reporting requirements, known as EEO-1, which call for private employers with 100 plus employees to offer summary pay data and hours worked along with demographic details including gender, race, and ethnicity.

This new reporting standard will take effect as of March of 2018. As this storm brews, companies are working diligently to properly understand their pay practices.

To aid in the pursuit for insights into pay practices, and building on an impressive 60 year history of helping clients manage all forms of legislative and regulatory change, ADP has launched Pay Equity Explorer backed by ADP DataCloud. Built on the biggest dataset in Human Capital Management, Pay Equity Explorer combines analytics and benchmarking to help employers asses the potential pay gaps and identify specific groups of employees for a more comprehensive analysis.

“Pay equity is not just a compliance issue, it is a critical business issue with a real impact on talent attraction and retention,” said Don Weinstein, chief strategy officer, ADP.  “Most organizations have difficulty accessing the necessary information to even understand if they have an issue.  Now, with our Pay Equity Explorer, organizations can dive deeper into their pay practices and identify areas for improvement they may have not known before.”

Companies will without a doubt need to get educated quickly ahead of the new EEO-1 reporting requirement. In addition, they also need to address the growing expectation regarding current and future employees, business owners, investors and others when it comes to equitable pay practices.

This isn’t the sentiments of ADP Research Institute data, when it comes to awareness of the impending new EEOC requirements, just over half of mid sized and almost three-quarters of large companies are aware of these requirements, however there are only 20 percent that claim to have a plan in mind to manage these requirements.