BOSTON, OTTAWA and EDINBURGH, U.K., (August 13, 2020) - CURO Compensation Limited (CURO), an industry leader in total compensation management technology, today introduced Root Cause Analysis to its CURO Pay Equity solution.
Helping identify pay gaps, CURO Pay Equity offers employers insight into the underlying issues contributing to these disparities. In understanding the drivers of pay inequity, organizations can mitigate risk, protect their brand and champion diversity and inclusion across the workforce. The addition of Root Cause Analysis to CURO Pay Equity highlights additional issues that lead to potential gaps, such as policy matters.
“An organization’s understanding of pay equity should extend beyond statistical analysis and pay remediation. Recognizing root causes allows employers to address systemic and structural issues, rather than just the symptoms,” said Ruth Thomas, Co-Founder and Senior Consultant at CURO. “Much of what drives pay inequity in organizations is not pay-related but often the result of barriers to entry and career progression for certain groups of employees throughout the talent lifecycle. It’s not necessarily about equal pay but pay equality, which means creating an environment where all employees have the opportunity to earn the same.”
The update further enhances CURO Pay Equity’s ability to support a complete pay equity analysis. Through interactive charts, employers can determine whether a compensable factor, including experience, education or performance, has the expected impact on pay across the organization and by comparable groups.
Thomas concluded, “At CURO, we believe a holistic pay equity audit provides a complete understanding of factors that drive wage inequality. Our clients have found the Root Cause Analysis very powerful when communicating uncovered policy issues to senior leaders. That’s what we want CURO technology to do because we believe everyone should have equal opportunity to reach their full potential, regardless of identity, background or circumstance.”
To learn more about CURO Pay Equity, visit https://www.curocomp.com/products/curo-pay-equity-analysis-software.
About CURO Compensation
CURO Compensation (CURO) helps employers make easy and fair compensation decisions. Our software empowers companies to manage compensation processes with confidence, align employee compensation with business success, analyze pay equity gaps and demonstrate a commitment to fair pay. CURO solutions are designed for practicality and built on our founders’ experience in managing successful enterprise software firms and overseeing complex compensation needs.
Founded in 2010, CURO manages compensation reviews for more than 300,000 employees across 150 countries. Delivering strategic impact through compensation, CURO partners with forward-thinking companies including ADP, Ascender, Deltek and others. For more information, visit curocomp.com.
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