The judges recognized PayAnalytics for its impact in helping companies make meaningful strides in pay equity by measuring their pay gaps, closing them through targeted raises, and keeping them from reemerging by providing ongoing decision support. Competition judge Isobel Nordstrom, Head of Nordic Financial Institutions with Citi, said that PayAnalytics “did a very, very good showing of how they are reducing the gender pay gap across the board for big and small companies.”
Closing a gender pay gap is an intense task for most organizations. Even companies that have the best of intentions, conduct internal discussion about their pay gap, and strive to be mindful of it in every salary decision often fall short of actually closing it. PayAnalytics offers employers a quantitative, data-driven toolset that provides concrete steps for closing the pay gap while respecting budget constraints and keeping the company’s compensation structure consistent.
And once a customer has closed its gender pay gap, PayAnalytics keeps working to keep the gap from re-emerging. A company with 100,000 employees and 10% turnover will make 10,000 salary decisions each year — which all need to be calibrated to maintain pay equity.
PayAnalytics now has over 100 customers across industries, ranging in size from 80 employees to over 140,000. This means that we are proud to have helped ensure equitable pay for hundreds of thousands of individuals in over 50 countries. We are grateful for the special recognition of the Nordic Fintech Award, and we plan to continue working hard to remain an industry leader and innovator in pay equity analysis.