Pay Transparency | Fair and Equal Pay by Deloitte

The challenge

Together with the increased relevance of Diversity, Equity & Inclusion in society and the EU Directive on Pay Transparency, assessing and acting upon gender pay and equal pay is one of the topics employers are prioritizing. The EU Directive, which is officially approved on the 30th of March 2023, introduces a set of transparency and enforcement measures that will have a substantial impact on your current Reward practices and HR processes.

Today, achieving pay equity is no longer solely a matter of eliminating sex discrimination but requires a deeper examination of varying perspectives and a more granular look at pay data.

Yet ensuring equal pay for equal work remains challenging for many organizations and employers are often not always aware of existing gaps. The gender pay gap really reflects the biases embedded within our society.

Benefits

Due to stakeholders and society demanding a stronger focus on Diversity, Equity & Inclusion, an increasing number of companies are already prioritizing gender and equal pay to their agenda.

There are several benefits to focus on fair pay:

EU Pay Transparency Directive (Meet transparency and enforcement requirements)

To further accelerate the process to close the gender pay gap, the European Parliament adopted on 30 March 2023 the Pay Transparency Directive. This Directive aims to ensure that women and men in the European Union are paid equally for equal work or work of equal value by focusing on transparency and enforcement.