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Pay equity is a top driver of retention and engagement, but only 5% of employers excel at it, and many are yet to develop criteria to deliver it, says HR thought leader Josh Bersin.

According to the Josh Bersin Company's Definitive Guide to Pay Equity – which is based on a survey of 448 companies, including 17 Australian organisations – most (95%) employers are not demonstrating "high maturity" around pay equity.

"These companies either ignore the topic altogether (until a legal, compliance, or reputational risk looms) or approach it as a sporadic project aimed at identifying issues – only to find themselves in the same situation a year later, and never making progress on addressing any root causes," the guide says...