Curated News
By: NewsRamp Editorial Staff
February 24, 2025
HR Research Institute Report Highlights Importance of Pay Equity in Business Advantages
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- Prioritizing pay equity gives organizations a competitive edge by enhancing talent retention, fairness, and attracting top candidates.
- Organizations with formal budgets, clear performance metrics, and intentional goals see success in closing pay gaps.
- Investing in pay equity builds trust with the workforce, fosters inclusion, and drives better business outcomes.
- High-performing organizations are 4.5x more likely to have a budget for closing pay gaps, setting them apart in the market.
Impact - Why it Matters
This news matters as it sheds light on the benefits of pay equity for organizations, emphasizing its role as a strategic business imperative. By investing in pay equity, companies can improve talent retention, fairness, and attract top candidates, ultimately driving better business outcomes and building trust with their workforce.
Summary
The HR Research Institute's latest report, HR.com’s Future of Pay Equity and Transparency 2025, emphasizes the critical importance of pay equity for organizations, revealing that only 28% have reached top maturity levels. Employers prioritizing pay equity benefit from talent retention, fairness, and attracting top candidates. Successful organizations are more likely to have a budget, define performance metrics, and set intentional goals to address workplace inequities.
Debbie McGrath, CEO of HR.com, stresses that pay equity is a competitive advantage, leading to trust with the workforce and improved business outcomes. The full research report and webcast presentation offer insights to help organizations close wage gaps and foster an inclusive workplace culture.
Source Statement
This curated news summary relied on this press release disributed by Newsworthy.ai. Read the source press release here, HR Research Institute Report Highlights Importance of Pay Equity in Business Advantages
