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Credits

Sponsored by Lorman Education
Product ID: 405639EAU
 
Credit & Course Provided by:

Internal Equity Policies

OnDemand Webinar (88 minutes)

Gain an understanding of internal and external pay equity concepts.Navigating issues involving pay equity is becoming more challenging for employers, and the social, financial and legal risks associated with inequity continue to grow. The purpose of this topic is to discuss the concept of internal and external pay equity. The information will explore the difference between internal and external equity, various types of employee reward systems, and the impact of job performance dynamics in the workplace. This information can help employers to focus on reward systems that promote employee retention, satisfaction and productivity instead of wasting money and effort investing in ineffective reward systems. This material will conduct an overview of pay inequity and inequality based on gender and race and the various reasons for those disparities. This information can be helpful to employers to not only understand the issue but to get a deeper understanding of the underlying unconscious biases that can lead to unintentional disparate effects. That understanding can lead to different choices that foster more equity in the workplace. Finally, the topic will discuss the legal implications of perceived pay inequity as well as what employers must do to comply with relevant federal regulations with regard to pay equity.

Authors

Cheyne R. Scott, Chasan Lamparello Mallon & Cappuzzo, PC

Agenda

Types of Reward Systems

• Non-Financial Rewards

• Financial Rewards

• Risks of Financial Rewards

Equity Theory

• External Equity

• Internal Equity

• Organizational Justice

• Compensation System Concerns

The Importance of Job Performance Dynamics

• Work Performance Trajectories

• Stages of Job Performance Dynamics

• Theories of Employee Retention and Motivation

Consequences of Perceived Inequity

• Gender Pay Gap

• Intersectionality

• Legal Standards

Employer Responsibilities and Best Practices

• EEO-1 Reporting Requirements

• Equity Strategies

• Internal Pay Audit