LiveRem Launches NZ’s First Free Real-time Gender Pay Gap Insight Tracking Feature

Payroll & HR data innovator LiveRem has launched a FREE gender pay gap analysis tool that enables New Zealand businesses to analyse their payroll & HR data instantly and accurately to produce a real-time gender pay gap index. The tool takes the legwork (and guesswork) out of calculating a company’s gender pay gap so that HR teams can focus on what matters - taking action to address their gaps.

In March, LiveRem launched the first cross-industry tool to offer NZ businesses live salary benchmarking; but soon realised that the data could also be used to solve the pay gap conundrum.

“Talking to our customers revealed that most businesses still use clunky spreadsheets and complex calculations to work out their gender pay gap, if they even calculate it at all. In an era of big data, finding a way to automate these calculations in real-time was a no-brainer. What’s more, the level of granularity we offer by department, pay level and role gives organisations a huge head start in formulating a targeted, forward-looking plan to address any issues,” comments CTO and Co-Founder of LiveRem Jonathan Morgan.

“We believe New Zealand companies want to take action around their pay gaps, but this starts with an ability to understand and interrogate their data. In an ideal world, reporting on our gender pay gap would be as ubiquitous as reporting on our staff count and profits,” says Kathleen Webber, Co-Founder and CEO of LiveRem.

“Taking meaningful action towards closing any gender pay gaps starts with understanding your numbers. This is simple thanks to LiveRem’s innovative tooling, empowering businesses to focus on what really matters - creating fairer workplaces for everyone,” commented one of the first companies to sign up for the tool.

Know your gap

LiveRem’s tooling makes gender pay gap reporting easy. The platform syncs with payroll & HR data to enable granular understanding - beyond whether a gender pay gap exists - that includes whether companies might be favouring a certain gender when hiring at certain organisational levels and any shifts in this bias over time. It also enables the analysis of staff turnover per gender, enabling teams to understand whether their organisational environment is not only attracting but also retaining diverse talent.

“Ordinarily, this level of analysis simply wouldn’t be possible instantly; and this probably contributes to why moving the needle on these stats has historically been such a huge challenge,” comments Kathleen.

“Prove it…” 
 

LiveRem’s gender pay gap feature can be stood up in minutes and is currently compatible with New Zealand’s most common payroll & HR tools, producing an internal dashboard and shareable report in seconds. New systems are being integrated every week.

The free version gives companies an automated, accurate analysis of their overall company gender pay gap; as well as a ‘rating’ in terms of how they’re doing compared to other organisations. It also highlights the three roles where this gap is most pronounced.

Paid users receive a full, detailed gender pay gap analysis with detailed market comparisons including pay level by department, pay level and role with an ability to switch between dollar figure or headcount, gender (beyond benchmarked values). Users can also track how their gap is improving (or not) and turnover by gender. To do so, no-one has to collate any data or undertake complex calculations.

“Pay equity is a potentially powerful attractor when it comes to new hires and companies who can ‘prove’ that they get this right could attract new talent; as well as retain the talent they already have,” believes Kathleen.

Proven payroll innovation

Kathleen and Jonathan have successfully launched two people data analysis offerings and have a passion for ‘solving problems using tech’.“We’re deeply entrenched in people data challenges day-in and day-out, and simply believe in the power of turning data into accurate insights that facilitate better decisions at a price point any company can afford,” says Jonathan. Their solutions regularly beat the ‘Big Four’ accounting firms for contracts and are often brought in when other companies have failed.

New Zealand companies can visit https://www.liverem.com/knowyourgap to sign up for LiveRem’s FREE gender pay gap analysis offering and join a growing number of companies committed to understanding and acting on their data.

Once they join, they can add their logo to LiveRem’s ‘Know Your Gap’ register of companies committed to understanding and acting on their gender pay gap (with the option to share their percentage gap).

About LiveRem

LiveRem is a leading edge real-time salary benchmarking platform that seamlessly integrates with payroll and HR systems, offering businesses precise and current insights on remuneration trends. Our platform stands out for its accurate & affordable real-time insights, providing superior value at a fraction of the cost compared to other options. Through advanced role matching, LiveRem delivers accurate benchmarks for various job roles across different industries. This automation ensures that companies can make informed decisions regarding remuneration efficiently, keeping them competitive in the dynamic job market. Furthermore, LiveRem acts as a powerful tool for attracting and retaining top talent, enhancing an organisation’s strategic planning and competitive positioning with access to the latest salary benchmarks.

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