Company Partnership Combines Market Data and Pay Equity Expertise to Achieve Fair, Consistent, and Explainable Compensation
Compa, the leading provider of compensation market data, and Syndio, the industry pioneer in pay transparency solutions, entered into a strategic partnership today that will better equip organizations to build transparent, equitable, and competitive compensation strategies in the face of increasing pay transparency demands and evolving legislation across the world.
With legislation like the EU Pay Transparency Directive looming and workers demanding greater pay clarity, companies are in the hot seat to not only explain their pay practices, but also ensure that it’s competitive and prove that it’s fair. The risks are real, and extend beyond regulatory compliance. Companies that fail to adapt risk losing out on top talent to their competitors who are prioritizing fair, explainable compensation.
This partnership brings together Compa’s precise, continuously refreshed market insights with Syndio’s expertise in establishing and maintaining consistent and equitable pay practices. The result is a powerful solution that enables companies to set pay that is consistent, fair, and explainable.
“Compa and Syndio together give us a powerful one-two punch for managing compensation and ensuring we are compliant in the era of pay transparency,” said Athar Siddiqee, Vice President of Total Rewards at Micron. “Compa provides the market data we need to make informed decisions about salary ranges and offers, while Syndio helps us identify where we are inconsistent with our pay policies and address any potential pay disparities. This combination gives us the confidence that we’re paying our employees fairly and competitively, which is essential for attracting and retaining top talent.”
Read More:Â 4 Trends Influencing Digital B2B Payments
Key benefits that the Compa and Syndio partnership enables for organizations:
- Access compensation benchmarks, offers, and stock intelligence:Â Leverage Compa’s unique network to ensure pay practices are aligned with the latest market trends.
- Identify and address pay disparities:Â Utilize Syndio’s advanced analytics to find and fix pay gaps based on gender, race, ethnicity, and other protected categories.
- Deliver consistent, explainable pay:Â Equip decision makers with Syndio’s on-demand pay recommendations, ensuring equity in starting pay and during promotions and transfers.
- Foster transparency and trust:Â Communicate pay decisions clearly and equitably, building trust and engagement among employees.
“We are thrilled to partner with Syndio to bring together the best of compensation data and pay equity expertise,” said Charlie Franklin, Compa’s Co-founder and CEO. “This partnership provides enterprise organizations with the insights and analytics they need to make informed decisions, ensure fair pay, and proactively address the accelerating demands for pay transparency.”
“This partnership marks a significant step toward creating a world where companies can unlock the true value of their human capital,” said Syndio’s CEO, Maria Colacurcio. “Together with Compa, we are empowering organizations to take proactive measures to address pay gaps, promote transparency, and create a workplace where consistent and fair compensation policies thrive.”
Read More : Global Fintech Series Interview with Daniel Muller, CEO of Aeropay
[To share your insights with us, please write to psen@itechseries.com ]
