Aon plc released results from its 2024 North America Pay Transparency Readiness Study on December 5, 2024, revealing that 75% of U.S. employers are not ready for pay transparency laws. These laws are currently or will be in effect in 14 U.S. states and four Canadian provinces by the end of 2025, and in all EU countries by the end of 2026. The study surveyed 626 U.S. employers.
Only 51% of employers have conducted an independent pay equity analysis, and of those, 84% identified pay equity gaps. Brooke Green, Head of Talent Solutions for North America at Aon, stated that employers who align with these new regulations sooner will be better positioned to address wage disparities and promote fairness. The study also found that only 34% of employers who found inequities have added additional funding to correct them.
Aon recently announced new features to its integrated Radford McLagan Compensation Database to support employers in navigating pay transparency and developing effective total rewards strategies. Kelly Voss, head of rewards and career advisory, North America at Aon, emphasized that access to data and intelligence is critical for organizations to remain competitive and differentiate themselves in the job market.
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