By recognising where pay gaps exist, CURO Pay Equity helps identify drivers of pay inequity within an organisation. In gaining this information, employers are then able to minimise litigation risks, protect their brand reputation and promote diversity and inclusion in the workplace. Cohort Analysis expands the SaaS solution’s functionality, enabling employers to compare pay across cohorts performing equally or substantially similar work through Pay Analysis Groups.
Ruth Thomas, Co-Founder and Senior Consultant at CURO, explained, “The simplest way to measure pay gaps is to look at average differences, but that doesn’t necessarily account for the individual reasons why pay differs legitimately between employees. With Cohort Analysis, we’ve extended the ability to analyse employees performing similar work by group by exploring cohorts within each Pay Analysis Group who share similar characteristics, such as tenure or performance, whom you would expect to be paid similarly. Within this insight, you can better understand, and remedy potential pay equity disparities. This is particularly useful for smaller organisations where employee numbers might not be large enough to run statistical modelling.”
This release also extends CURO Pay Equity’s ability to support pay remediation recommendations. Previously only available through adjusted analysis based on statistically modelled pay outcomes, users can now combine insights on individual-level equal pay issues and outlier analysis as well when making pay remediation recommendations.
Thomas continued, “CURO launched its Pay Equity solution to give employers more information about the factors that influence pay and contribute to gaps. Cohort Analysis takes that one step further, making it possible to conduct a proactive pay equity audit, putting the employer in control to gain maximum impact to the organisation and its workforce. At CURO, we remain committed to utilising technology to create a fairer workplace for all.”