Gapsquare, from XpertHR, today announces the launch of its new and improved Workforce Planner to help HR and compensation leaders model talent management scenarios to achieve Pay Equity and DEIB (Diversity, Equity, Inclusion and Belonging) goals. The intuitive tool uses an organization’s data, imported into Gapsquare, to model talent management scenarios that produce tangible results on time and within budget.
“On one hand HR has the hefty task of delivering a strategy that achieves pay equity and drives better DEIB within their business, on the other hand they have limited resources to achieve this, with less time and budget to delve deep into what could be the answer they need to succeed. Fortunately, with the launch of Gapsquare Workforce Planner, HR and compensation leaders can build a data-informed strategy that can deliver on time and within budget.” – Zara Nanu, Director, Fair Future of Work Strategy, at XpertHR
For HR leaders, Pay Equity workforce planning is a critical activity to meet several challenges:
- Meeting DEIB commitments and pressures from areas such as reporting requirements and new pay legislation. With the new and improved Workforce Planner, businesses are able to create a plan that not only tackles pay equity but also uses talent management strategies such as recruitment, retention, and attrition, to accomplish representation and DEIB goals.
- Attracting and retaining top talent while keeping to available resources. XpertHR research has found that almost 75% of CHROs indicated talent retention and/or talent attraction is a top 5 strategic HR priority right now, but time and budget to focus on ensuring employees join and stay is slim. Early in 2023, XpertHR has found that nearly half of companies with worse-than-average turnover are either freezing or actively decreasing their HR budget.
Taking a proactive approach to pay equity puts DEIB and fair pay at the center of an organization’s workforce planning, ensuring equality now and in the future, while also helping to attract and retain employees. But further to this, Gapsquare Workforce Planner can manage pay equity across the whole employee lifecycle; with pay and salary range finder for new recruits, suggested pay adjustment strategy to maintain pay equity, and the ability to create salary range for promotions.
This is all done with businesses’ goals and budgets set out from the beginning. Workforce Planner now allows users to set goals across pay, representation, budgets, and target dates. This means that DEIB goals can be met realistically, within the resources available to organizations. The advanced strategy building can model different DEIB strategies and help organizations find the most effective plan to close the gaps while also keeping to a desired timeline and budget, establishing realistic goals unique to the business.
A plan can be created in just three steps using the easy-to-use, intuitive, and convenient self-serve tool. As the solution is available through a single subscription to Gapsquare Plus, HR and reward leaders can access the data they need all in one place. Workforce Planner can also be combined with other XpertHR legal and compliance solutions, allowing HR leaders to keep up-to-date with evolving regulations such as pay transparency. By bringing together data and insights across the Gapsquare and XpertHR solutions, organizations can take a proactive approach to reducing pay and representation gaps across their business.
Zara Nanu continues:
“Gapsquare Workforce Planner helps HR leaders model talent management scenarios, including time and budget-bound planning and can provide the necessary insight to achieve pay equity and meet strategic compensation goals. This proactive look at the possible future shape of your organization means you can ensure diversity and pay equity are at the core of these plans.
“Pay equity can be achieved through better workforce scenario planning, and with the Gapsquare Workforce Planner tool, businesses can navigate the pay transparency landscape.”
The Gapsquare new and improved Workforce Planner is included in the Gapsquare Plus subscription and available to new and current customers now. To learn more and sign up for a demo, visit: https://bit.ly/44C5Cov
To learn more about Gapsquare Workforce Planner, join the ‘Leveraging Workforce Scenario Planning to Boost Pay Equity’ webinar on September 20th, 2pm ET, for an exclusive demonstration of the innovative solution: https://bit.ly/3sElhX0
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