LOS ANGELES, April 17, 2024 /PRNewswire/ — OpportunityParity™, an innovative new workplace equity solution from Trusaic, helps organizations promote fairness throughout the entire employee lifecycle. An integral component of Trusaic’s workplace equity analysis software suite, OpportunityParity offers a complete solution for pinpointing and remedying equity concerns in an organization’s hiring, promotion, and retention practices.
Workplace equity extends beyond equitable pay to encompass fairness in hiring, opportunity for advancement, access to resources, and fair treatment in daily work experiences. Creating an inclusive work environment that encourages career advancement increases employee satisfaction and engagement and is key to attracting and retaining top performers in a competitive talent landscape.
OpportunityParity draws from diverse global directives including those from the OFCCP, the EEOC, and the European Union (the EU Pay Transparency Directive), promoting fairness and inclusivity throughout the talent lifecycle, regardless of geographical boundaries or regulatory frameworks. Among the many benefits to employers, OpportunityParity:
- Improves equitable career advancement: Builds equity into every aspect of the talent management process, from recruitment to retention.
- Analyzes and improves opportunity equity: Identifies and addresses disparities in hiring, promotion, performance assessment, and retention.
- Helps achieve workplace equity objectives: Forecasts help users achieve their diversity objectives and accelerate progress with data-driven insights.
- Builds a culture of trust and transparency: Elevates human capital, bolsters people sustainability, and fortifies social responsibility metrics by fostering an environment of trust and transparency.
OpportunityParity helps organizations effectively analyze both the raw gap and unexplained disparities in promotion and hiring by considering influential factors and their impact. Key features of the solution include:
- Intuitive visualizations – Gain insights into workforce demographics through intuitive visualizations.
- Industry benchmarks – Compare gender and race demographics to industry and company-size benchmarks.
- Talent flow analytics – Monitor changes in hiring, promotion, and retention rates over time to analyze trends in internal talent movement.
- Intelligent workforce forecasting – Predict future workforce trends and demographic shifts to inform strategic planning.
- Talent flow driver analysis – Use regression analysis to identify factors driving differences in hiring, promotion, and retention rates across demographic groups.
- Seamless integration – Data pulled directly from an organization’s HCM source system through certified Workday, UKG, SAP and ADP integrations.
“Workplace equity software enables employers to account for opportunity equity in their workforce strategy,” says Robert Sheen, CEO, Trusaic. “Opportunity equity is the latest strategic initiative to encourage progress in closing pay gaps and creating gender parity. As pay equity legislation continues to evolve, the risk increases for those organizations who don’t take workplace and opportunity equity seriously.”
Trusaic’s workplace equity software suite includes PayParity®, SalaryRangeFinder®, OpportunityParity™, and Global Pay Data Reporting™.
About Trusaic
At Trusaic, we’re on a mission to empower organizations to create a more equitable working world for all. We champion human potential through our industry leading technology platform and first-to-market partnerships and integrations, enabling organizations to achieve pay equity, foster a more diverse and inclusive workforce, hire economically disadvantaged individuals and ensure employee access to affordable healthcare.
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