What Role Will Pay Equity Have In The Covid-19 Crisis?

What Role Will Pay Equity Have In The Covid-19 Crisis?

The crisis of Covid-19 has altered the working environment in a flash and, while diversity, inclusion, and equal pay might have taken an absent in the beginning days, the crisis has brought attention to issues of pay disparities. There is now a chance to address this issue going forward.

In the space of a few weeks but the impact of the Covid-19 virus has drastically altered the landscape of employment. The world has been thrust into a crisis-management scenario in which we must deal with the fast-expanding pandemic while also safeguarding employees and protecting our companies, as well as dealing with uncertainty in the constantly changing environment. With the multitude of priorities at stake, it’s not difficult to understand why focusing on these issues might not be as important.

Pay Disparities Highlighted By Covid-19 Cataclysm

In a way, wage disparities have been highlighted by the economic crisis. In the first place, there is a gap between those earning high and low since those we’ve been accustomed to using for the most important jobs or who are most affected by job loss has been the most poorly paid people in the world.

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Help Prevent Litigation And Build Trust

Prior to this crisis possibility of litigation as well as fostering trust were the two main motives for the action taken regarding pay equity. It is a stark fact that they are even more crucial in the present. We all are under pressure at work at home, at work, and within our communities. Many of us are confronted with the unsettling real-life consequences of reduced earnings or even no money at all. When there is a lot of stress and financial pressure, there is a possibility of employees becoming more litigious as the concerns over fair treatment are increased.

Pay equity advocacy isn’t just about worrying about litigation, but. More and more employers are realizing that encouraging transparent pay practices and fair pay is essential to employees’ engagement as well as trust. It is something employees must have at this moment when they are feeling financially at risk. Unfortunately, employers are reluctant to communicate their policies on pay practices. An audit of pay equity that is proactive will allow you to determine your risk and feel assured that your policies regarding pay are fair.

Would Re-Leveling Of Salary Help To Narrow The Pay Gap?

Many employers have implemented pay restrictions or salary cuts to help staff costs be aligned with a reduction in business activities. Similar to how you examine increases in pay through a protected category in the process of reviewing compensation and the same applies for salary decreases to ensure fairness and check for any biases that are not intended.

Re-leveling of salary also provides an opportunity to identify and even eliminate pay equity. Some commentators have suggested this is could be a great opportunity to end the gap in pay forever, for instance, by not cutting the pay of those who need the remediation of pay equity. However, the people who enacted cuts in pay in the current crisis were required to do so quickly and an overall method – based on seniority – was the fairest approach. We’ll continue to operate in a situation of cost-constrained circumstances for a while, but it is a good idea to have a pay equity analysis in place to incorporate into cost-cutting exercises.

The Workforce Restructuring Decisions Will Affect The Analysis Of Pay Equity

The workforce restructuring decisions made as a result of the Covid-19 crisis will influence your pay equity assessment. Whatever industry you’re within, your demographics for employees are changing – whether due to headcount reductions and new hires, or employees moving to new roles or workplaces. This can have an effect on the consistency in your analysis of pay equity. For example, when we look at the average gap in pay, we are aware that representation can have an enormous impact on how the figures appear to be. If the projected number of category employees decreases to a certain level, your pay gaps will rise. This will be a challenging story to communicate to stakeholders, employees, and the public.


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