pay transparency solutionpay transparency solution

Take a proactive approach to pay transparency

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The pay transparency solution that aligns with your pay philosophy

Pay transparency is not an all-or-nothing discipline. It’s a journey that includes compliance, differentiating your business in a tight labor market, building a culture of fairness, and retaining top talent. Bob supports you with tools for pricing jobs, defining pay ranges, assessing pay gaps, and more. Start making data-driven compensation decisions and develop your pay philosophy while staying on top of changing regulations.
Pay transparency: define your pay philosophyPay transparency: define your pay philosophy

Define your pay philosophy

Many companies make ad-hoc compensation decisions that can be biased or inequitable when hiring new employees or promoting from within. Start with a clean slate by defining a pay philosophy that reflects your company culture and includes a holistic company-wide compensation strategy based on your hiring and growth plans and available budget.

How does Bob help?

  • Take the guesswork out of setting compensation for new and existing hires by building a job catalog that creates consistency around positions and job levels.
  • Define a global salary structure that builds trust using Bob’s compensation bands (coming soon). Use them to ensure equitable pay based on skills and performance. 
  • Run an internal audit to discover pay gaps and outliers. Then, use your next compensation cycle to adjust and close any gaps.
  • Use Bob’s Workforce Planning and Compensation modules to get all stakeholders on one page and create buy-in for adjusting salaries to close pay gaps.

BE STRATEGIC

As a publicly held company, I need to present HR data every quarter to the compensation committee and the Board. Bob makes it simple, providing all of the data that I need in an easy-to-understand format.
Sharon Steiner
Sharon SteinerCHRO at FiverrREAD THE CASE STUDY
Pay transparency: stay compliantPay transparency: stay compliant

Stay compliant

It can be challenging to stay up-to-date with evolving local legislation on pay transparency, yet non-compliance can lead to significant financial penalties and negative press. Stay agile by creating a compensation philosophy that ensures fair pay without bias and regularly revisit it as regulations change.

How does Bob help?

  • Use a reputable benchmarking tool to pay your people according to current market rates. Bob’s Compensation Benchmarking Powered by Mercer contains the leading global salary data across geos and sites. Start setting salaries based on your internal data and compensation philosophy.
  • Close internal pay gaps and standardize salaries across geos and sites using Bob’s job catalog and compensation bands (coming soon). Create consistency around positions, job levels, and pay.
  • Regularly review your people’s total compensation in Bob’s Compensation module and adjust as regulations and market conditions change.
  • Stay compliant by monitoring key metrics through Bob’s People Analytics. Create dedicated dashboards and custom reports to keep your finger on the pulse. 

STAY AGILE

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Create a transparent culture

Align your pay transparency philosophy with your company culture and reap the benefits by differentiating your brand and hiring and retaining the best talent. Increase awareness around pay transparency while giving your people the data they need to have informed conversations.

How does Bob help?

  • Ensure pay consistency company-wide during performance and compensation cycles. Bob’s Compensation module gets all decision-makers on one page with access to critical employee data such as current salaries, compensation history, and tenure.
  • Provide managers with access to the people data they need to make fair and equitable compensation decisions. Empower them to communicate with their teams about internal mobility and compensation.
  • Openly communicate about pay by sharing documents related to your company’s compensation policy via Bob’s Docs.
  • If it aligns with your company culture, share salary bands with your people to increase trust and motivation. Share salary ranges on job postings to increase interest and stay competitive in a tight labor market.

GET STARTED

Bob’s reporting tool is great, and I love that I can download all the fields. I always want to look at data in different ways—division, department, site, length of service, by manager...I look at turnover in many different ways. Without Bob, it would be very difficult. Relying on the accuracy of the data is the core.
Inbar Dayan
Inbar DayanGlobal VP People at BigIDREAD THE CASE STUDY

Align your pay transparency philosophy with your company culture.