Understanding Pay Equity
Pay equity refers to the principle of equal pay for equal work, regardless of gender, race, or other factors. In executive compensation, achieving pay equity is crucial for fostering a positive corporate culture.
Benefits of Pay Equity
- Enhances employee morale and retention.
- Improves company reputation and brand image.
- Attracts top talent who value fairness.
Companies that prioritize pay equity are more likely to succeed in the long run.