HRO Today CHRO Today 2019 - 11

Professional Insight
disparity will not close until 2059.
But businesses are beginning to take
the lead in the pay equity dilemma.
These three tactics can help promote
equal pay:
* Conduct pay equity audits and
introduce an annual affi rmative
action plan, evaluating all employees'
salaries and adjusting those who
appear to be underpaid based on their
job description and qualifi cations.
Organizations need to allocate the
correct resources for these salary
corrections when developing their
annual budgets.
* Take performance out of the
equation. Allocating salary strictly
based on the responsibilities of the
position rather than past performance
can signifi cantly reduce unconscious
bias-especially since performance
evaluations can be biased against those
who have taken leaves of absence.
* Ensure that women and minorities
have opportunities to pursue the
training necessary to advance to higher,
better paid roles.
Talent Shortages
ManpowerGroup's 2018 Talent
Shortage Survey found that 45 percent
of employers globally are struggling to
fi ll key positions. With unemployment
rates in the U.S. at a record low of 3.8
percent and talent shortages being
felt around the world, organizations
are starting to shift their focus from
talent acquisition to talent building.
Talent development and upskilling are
now more than just perks-they are
key differentiators in the war for highquality
talent.
But companies are approaching this
task in a number of different ways:
* Internships are being leveraged
as a low-risk way to build talent
pipelines. This type of program allows
Source: Deloitte
FALL 2019
|
CHRO TODAY
[11]
organizations to evaluate talent before
committing to a full-time hire while
giving students the opportunity to
immerse themselves in a new industry
and company culture. As a result, new
hires are already familiar with the
organization, saving onboarding and
training costs.
* Mentoring and reverse mentoring
are also upcoming trends. By pairing
experienced employees with earlycareer
hires, organizations can facilitate
mutual skills sharing, closing the skills
gap and encouraging a culture of
collaboration and respect.
Editor's note: To learn more about the
C-TEN, visit www.hrotoday.com/c-ten.
79%
of global executives rate agile
performance management as a
high organizational priority.
http://www.hrotoday.com/c-ten

HRO Today CHRO Today 2019

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