Pay equity assessments or audits ensure that all employees receive proper compensation regardless of age, race, gender or disability status. The assessments create a workplace where employees can reach their full earning potential. Further, they show that the company understands that pay inequity increases wealth disparities in such areas as generational wealth and home ownership.
By law, you need to pay all employees a fair and equitable salary. In other words, you must offer equal pay to employees who perform the same duties as one another, regardless of gender, race or any other personal defining characteristics.