Incentive Plan Decision Making
Incentive Plan Decision Making While Pay versus performance disclosures will headline most executive pay stories,
We develop pay equity strategies that align your organization with its goals and the larger marketplace, and address Diversity, Equity, and Inclusion (DEI)—one of the most important issues on the current business landscape.
Pay equity isn’t just about regulatory compliance. It’s also an important tool for increasing employee engagement and happiness, and positioning your organization for next-level growth. At Zayla Partners, we tailor smart solutions to your company’s vision and needs, using data-driven analysis to attract, retain, and motivate your best assets: your team.
We advise on Total Rewards—compensation, well-being, benefits, recognition, and development. When designed strategically in alignment with business goals, these rewards lead to optimal organizational performance. Total Rewards programs fuel motivated and productive workforces that feel appreciated and rewarded for their contributions, driving the organization to even greater success.
Pay equity is more than just the starting point of a successful DEI program. Ensuring employees with similar job functions and skill levels—regardless of age, race, gender, or religion—are compensated equally is simply the right thing to do.
Studies show that organizations who consistently monitor their pay equity—including internal pay data and demographic representation in management—have more engaged employees. This leads to greater career satisfaction among team members, increased productivity, and enhanced company growth.
We’re experts in closing wage gaps and addressing other compensation imbalances that can lead to employee dissatisfaction, high turnover and the subsequent costs of training a new hire, and even legal action.
We partner with your human resources and DEI officers on solutions to ensure compensation remains equitable through annual salary increases, long-term and short-term incentives, and other business shifts. We can also develop a system for reporting pay data to enforcement officials, and create custom guidelines for staff advancement, including equal access to mentoring and professional development opportunities.
By keeping up with the ever-changing landscape of state pay-equity regulations—so you don’t have to—we help protect you from the appearance of impropriety and media scrutiny, and reduce the chance of legal liability.
Find out more about what makes Zayla different.
We conduct in-depth pay equity audits, beginning with an internal analysis of pay equity and potential wage gaps. A subsequent market analysis provides valuable data about pay structure in your industry, and ensures that your compensation programs are competitive.
After discussing problem areas and new state or regional compliance regulations with your organization’s leadership, we custom-design solutions—and help you develop strategies for staying ahead of the curve.
Call Zayla today to create pay equity strategies that drive performance and profitability.
Regular monitoring of your organization’s job architecture and pay structure are the first steps. In the longer term, you’ll want to keep an eye toward ensuring that your leadership representation is equitable within all groups.
Zayla’s pay equity analysis can help your company identify pay gaps between people in similar positions and with similar talent and results, but who may be of different genders, ages, ethnicities. It’s especially helpful in identifying protected groups that may not be obvious to HR teams.
A wage gap analysis looks at how employees of different races, ages, and genders are paid within your organization, and identifies gaps between them. It’s a good first step in gauging how your diversity, equity, and inclusion (DEI) efforts are working.
A pay equity analysis takes into account your organization’s compensation policies and practices. For each grouping of employees in similar roles, we create detailed guidelines for compensation, with an eye toward explaining—and remedying—disparities.
A pay difference is the deviation in wages between employees, and is usually tied to skill level, training, degrees or certifications, and responsibilities. Wage gap describes the overall difference in mean or median earnings between two groups of people—such as men and women, or employees from two different generations.
Internal equity focuses on pay equity within your organization. External equity looks at how your compensation policies stack up to other companies in your industry. Balancing internal and external equity is important in meeting organizational goals and strengthening company culture.
There are a wide variety of federal, state, and regional laws that govern pay equity. These include the Federal Equal Pay Act, Executive Order 11246, and the California Fair Pay Act or New York Achieves Pay Equity law. Zayla’s team stays up-to-date on regulatory issues, so you can focus on growing your business.
While Total Rewards plays a leading role in the employee experience, it doesn’t exist in a vacuum. Initiatives must be completely woven into the enterprise’s HR strategy, considering the human capital and societal influences that affect program design and strategy. Upskilling, the gig economy, regulatory changes, AI’s impact, data analytics, pay equity, and other HR factors all influence incentive programs and the larger the Total Rewards Strategy.
When business strategy, culture and Total Rewards programs are aligned, the result is productive, committed, and inspired employees who contribute their time, talent, and efforts at their highest levels. In turn, pay equity takes care of itself, elevating the performance of all individuals and teams, and enhancing the bottom line. Total Rewards programs are the most direct path to achieving organizational outcomes and delivering the highest value to your workforce.
Zayla™ is happy to help your company align your pay and governance structures and processes with your long-term goals.
Call us or fill out the form below to schedule a consultation.