COMPENSATION DATA COLLECTION, REPORTING & DOCUMENTATION
HR Works noted the growing emphasis on compensation and pay equity as one of the key 2023 NILG Conference Takeaways, highlighting the inevitable return of the EEOC’s Component 2 Pay Data Collection and increase in State pay laws as clear signs that federal contractors should ensure that they are monitoring their pay practices for equity.
As a reminder, in 2022 the OFCCP issued a compensation Directive (DIR) 2022-01, and recently OFCCP officials expressed concern that some contractors may not be conducting a compensation analysis in compliance with Directive (DIR) 2022-01.
STEPS TO COMPLY WITH THE OFCCP COMPENSATION DIRECTIVE
- Identify internal resources to conduct analysis
- Determine a methodology of analysis that conforms to the Directive
- Conduct the analysis of compensation administration and system
- Identify and research pay disparities and pay gaps
- Document and summarize findings
HR WORKS CAN HELP