In our last two articles, we provided some advice on how to improve your business’ financial health and dedicate yourself to customer service this year. Going hand in hand with these resolutions is addressing pay equality in the workplace. Differentiating pay based on gender is something that has gained a lot of negative attention this past year, and moving into 2018, needs to be resolved. Not only does unfair pay result in low morale and increased turnover, it also has the potential to lead to Employment Practices Liability claims. Read on to discover the best ways to limit your liability and ensure fair pay for both male and female employees.
Put women and men in decision-making roles.
It’s a great indicator to the potential new hire that your company celebrates diversity, especially when it comes to the hiring process. Eliminate the notion that only men are put in leadership roles by rewarding your hardworking female employees with the same opportunities.
Another key point to mention is that diversity sits well with applicants. Diversity speaks to your company culture as being inclusive, which can give your business a competitive edge.
Stick to your pay scales.
Paying people the same wage to do the same job, regardless of gender, is a basic tenant of gender equality in the workplace, says Small Business Trends. This means having set price ranges for set jobs, regardless of gender.
Piyush Patel, Silicon Valley entrepreneur and author of Lead Your Tribe, Love Your Work, states, “If all of those people are doing the same job and contributing to your company’s overall mission, they should be compensated the same. If someone is doing a poor job and not contributing to your mission, then why are they still working for you?”
Provide company-wide raises.
Depending on how long the employee has been with you and his or her experience, a raise can vary. However, if you schedule annual raises, it can provide incentive for everyone on the team to work hard throughout the year. Another option is to give performance reviews. In this evaluation, you can notify the employee where they excel and where they can improve.
Regardless of which option you choose, giving fair and consistent raises to females and males is required. The pay raise company wide doesn’t have to be a set number, but rather a wage increase that’s relative to their position so you can control your overhead costs.
Start your year off on the right foot and work proactively to pay your employees fairly without gender bias. Your team and your future new hires will thank you.
About Newman Crane & Associates Insurance
Deciding what coverage you need and what limits and deductibles make the most sense can be tricky. Since 1965, Newman Crane & Associates Insurance has been helping Central Floridians make sense of their options and make the smartest choices for their circumstances. Whether you need Warehouse Insurance or any other type of business or personal coverage, we encourage you to contact our friendly, experienced, and capable team today. Call us at (407) 859-3691 for a consultation.