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Lack of equity in compensation, advancement may curtail employers’ DEI strategies

Summary

This article discusses the lack of equity in compensation, advancement opportunities, and educational requirements that may be hindering employers' Diversity, Equity and Inclusion (DEI) strategies. According to the 2023 Equity in Hiring Research Report from HireVue, employees are less likely to feel supported in their career growth and that people from all educational backgrounds have equitable opportunities to advance their careers. The article suggests that employers can improve fair compensation practices with skills assessments and skills-based hiring, as well as upskilling and internal mobility options. The article also suggests that employers should assess candidates beyond traditional degrees and improve workplace culture to promote equity in employee experience and self-development opportunities. Finally, experts suggest that directors need better data and tools to define clear targets, metrics, reporting structures and integration with business outcomes.

Q&As

What are three main areas where lack of equity can be seen in the workplace?
The three main areas where lack of equity can be seen in the workplace are compensation, advancement opportunities, and educational requirements.

How do HR professionals and employees differ in their views on pay transparency and career growth?
HR professionals are more likely to say that employees from all backgrounds have equitable opportunities to advance their careers in their organization, while employees are less likely to say their organization values diversity, that they feel a sense of belonging in their organization, or that they feel their unique background and identity are valued.

What measures can employers take to improve fair compensation practices?
Employers can improve fair compensation practices with skills assessments and skills-based hiring, as well as upskilling and internal mobility options.

How can employers improve equity in employee experience and self-development opportunities?
To improve equity in employee experience and self-development opportunities, employers can focus on workplace culture and provide data and tools to define clear targets, metrics, reporting structures, and integration with business outcomes.

What do experts suggest directors need to do to prompt board-level action on equity goals?
Experts suggest directors need better data and tools to define clear targets, metrics, reporting structures, and integration with business outcomes in order to prompt board-level action on equity goals.

AI Comments

👍 This article provides valuable insights into how employers can address equity in compensation, advancement, and educational requirements to create a more equitable workplace.

👎 The article fails to provide concrete solutions on how to address the lack of equity in the workplace and how to improve workplace culture for employees from different backgrounds.

AI Discussion

Me: It's about how a lack of equity in compensation, advancement, and educational requirements may be hindering employers' DEI strategies. The article goes on to point out that only half of employees responding to a survey said they felt supported in their career growth and that people from all educational backgrounds have equitable opportunities to advance their careers.

Friend: That's really concerning. It makes sense that employers would struggle to implement DEI strategies if they don't have a level playing field in terms of compensation, advancement, and educational requirements.

Me: Right. And the article suggests that employers can improve fairness by implementing skills-based hiring, upskilling, and internal mobility options. It also suggests that employers should provide better data and tools to define clear targets, metrics, and reporting structures for board-level action on equity goals.

Action items

Technical terms

DEI
Diversity, Equity, and Inclusion.
Compensation
Payment or reward for services, work, or duties.
Advancement
Promotion or improvement in rank, status, or position.
Educational Requirements
The qualifications or credentials needed to be eligible for a job or educational program.
Skills-Based Hiring
A hiring process that focuses on the skills and abilities of a candidate rather than their educational background or experience.
Upskilling
The process of teaching employees new skills or improving their existing skills.
Internal Mobility
The ability of employees to move between different roles or departments within the same organization.
Discriminated Against
Treated unfairly or unequally due to a protected characteristic, such as race, gender, or age.
Workplace Culture
The values, beliefs, and behaviors that are shared by the members of an organization.
Board-Level Action
Decisions or actions taken by a company’s board of directors.

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