Ten questions directors should ask:
- How often is a pay equity analysis conducted?
- What are the key findings and actions arising from the data analysis?
- What pay equity indicators can be reported to the board?
- What are the findings of the annual performance review analysis by gender?
- How do diversity and remuneration policies address pay equity?
- Is there a pay equity strategy and action plan to address any pay equity issues?
- What progress has been made on addressing pay equity issues?
- What are the key barriers inhibiting progress on pay equity?
- How is the CEO held accountable for pay equity?
- What is the process for ongoing monitoring of pay equity in the company?
Five red flags to look out for:
- Senior management is unaware of the issue of pay equity.
- No gender pay gap analyses are conducted.
- Negative employee perceptions about fairness in engagement surveys.
- Remuneration policies and procedures do not specifically address pay equity.
- Inadequate (or no) action taken to address pay inequities.