Understanding how to achieve pay equity should be easy for everyone.
But for many companies, it’s still near impossible.
Disjointed software, complex spreadsheets, and unreliable compensation data hide crucial insights and hinder companies from making real pay equity progress. And with incoming pay equity legislation across Europe, the need for progress has never been more urgent.
Here at Ravio, we want to ensure fair pay is easier and more accessible than ever by making the path to pay equity possible for all.
Analysing pay equity is often a tedious and time-consuming task -- especially when you lack reliable compensation data. This challenge is compounded by the obstacles many organisations face:
These factors hinder your ability to make informed decisions about pay equity, slowing down progress and perpetuating unfair pay practices.
To achieve pay equity, you need direct, actionable insight into the current compensation landscape.
Ravio offers just that.
By directly connecting you to today’s compensation market, Ravio provides real-time data insights that make understanding and managing pay equity straightforward and efficient.
Keep reading to see what’s possible with Ravio’s new pay equity product.
Say goodbye to data uploads and lengthy wait times just to understand your pay gaps. Instead, connect your HR system with minimal setup time to immediately generate pay equity insights, including the adjusted gender pay gap and representation.
How we calculate the unadjusted gender pay gap
The unadjusted pay gap refers to the raw difference in median earnings between men and women, without accounting for any factors such as job level, job function, or the country they perform their work in. It provides a straightforward comparison but does not reflect differences in job roles or other relevant factors.
How we calculate the adjusted gender pay gap
The adjusted pay gap takes into account factors that contribute to pay differences between men and women, including job function, job level, and country. ‘Adjusting’ the raw data to account for these helps us paint a like-for-like comparison, which helps to answer the question of whether men and women are receiving equal pay for equal work. Because there are so many factors which impact pay discrimination towards women, the adjusted gender pay gap can be a more valuable metric to help companies identify where pay discrepancies are coming from.
With Ravio’s new pay equity product, it’s easier than ever to diagnose what’s happening under the surface. Dive in to identify the root causes of pay and diversity gaps across departments, geographies, and different team managers. Easily benchmark your pay equity metrics to today’s compensation market using Ravio’s reliable real-time benchmarking data.
HR & Reward leaders often tell us that sharing pay equity progress with senior leadership and explaining pay decisions to employees are some of the toughest situations to navigate when it comes to compensation. The Ravio platform generates pay equity reports for leadership to build trust and develop buy-in, while also helping employees understand future pay decisions.
Now is the time to become compliant with the EU Pay Transparency Directive. With Ravio, you can effortlessly track key metrics required for reporting and ensure your organisation is regulation ready. Get regulation ready for the EU Pay Transparency Directive by staying on top of key metrics required for reporting.
With Ravio, fair pay is finally an achievable goal for all. Our platform empowers HR, Reward, and DEI leaders to:
With Ravio’s real-time data and integrated platform, you can make fair pay the standard in your company, ensuring that all employees are compensated fairly and equitably, across the world.
Your monthly dose of market insights and expert perspectives
In this session, Trine Palm, Global People Director at Formalize, shares how they built their levelling framework and compensation architecture from the ground up, and what it means for EU Pay Transparency Directive readiness. From IC and management track alignment to full salary band transparency, this is a practical look at what it takes to make pay transparency work in a fast-scaling team.
The EU Pay Transparency Directive is bringing major changes to hiring, compensation management, gender pay gap reporting, and more. Read our comprehensive guide to get prepared and stay compliant.
The EUPTD requires you to report pay gaps by "category of workers doing equal work or work of equal value". Here's expert guidance from Anita Lettink on how to define those categories.
