NAHR Fellow Kevin Hallock partners with team to create PayStandards, the performance-first pay equity solution
NAHR Fellow Kevin Hallock partners with team to create PayStandards, the performance-first pay equity solution.
Companies that don't prioritize pay equity incur the risk of substantial legal settlements and reputational damage. Companies that do prioritize pay equity typically spend considerably each year to achieve it, but fail to do so. Powered by an innovative, legally defensible methodology, PayStandards' software solves this pay equity problem by generating pay recommendations tailored to each employee based only on job-relevant characteristics.
PayStandards considers all employees, rather than just outliers, and does so year-round, instead of just once a year. As a result, PayStandards outperforms traditional approaches to addressing pay equity with up to 40% pay gap resolution in the first year alone, and does so up to 70% more cost-effectively.
The PayStandards team has extensive expertise and experience in compensation, data science, economics, technology, and AI, and is currently engaging with companies ranging in size from 1,000 employees to the Fortune 500.