BOSTON–(BUSINESS WIRE)–EquiCalc has released a suite of pay equity analysis software and services to help companies test for, and correct, potential compensation discrimination across race and gender under various laws.
EquiCalc is teaming with Advanced Analytical Consulting Group, Inc. (“AACG”) to provide advanced economic, statistical, programing, and consulting services in combination with the EquiCalc software to help companies respond to the increased pay equity reporting forms from the Department of Labor. EquiCalc offers two software platforms, EquityTest and EquityPath, to address the need for pay analysis, and data processing, before companies file the required EEO-1 data due September 30th, 2019.
The first software offering is cloud-based EquityTest for fast, but extensive, analysis of the required EEO-1 Component 2 wage and hour data. EquityTest identifies potential pay inequity based on the EEOC’s potential initial screening tests. EquiTest’s reports summarize potential concerns upfront with easy-to-use hyperlinks to details in the body of the report, making it easy to identify potential problems and assess solutions from up to 480 tests per establishment. The software can use anonymous data in the EEO-1 report form, so companies can load data to EquiCalc’s secure cloud and know their data has no corporate-specific identifiers.
For broader pay-equity analysis, EquityPath, combines clear graphics, sophisticated econometric models, and artificial intelligence to identify, measure, and correct potential wage disparities across races/genders among similar workers based on their individual pay records. Through a graphical user interface, users can adjust wages for large groups of individuals based on individual wage-shortfalls, or for employees individually. EquityPath can investigate potential discrimination in aggregated groups, such as management divisions, states, or within job groups across the country or within small groups, such as individual jobs in individual establishments, based on a few clicks on the graphical user interface.
EquityPath also produces completed EEO-1 forms from the individual-level data. On an on-going basis, EquityPath can test for disparities under various legal definitions, address them by changing wages and then produce a record of compensation and hours for both the company HR/payroll process and the EEOC in the form of the EEO-1 reports by individual Establishments.
AACG provides consulting, economic, statistical, and programming experts that complement EquiCalc’s software. AACG’s PhD economists assist with analysis and provide expertise in pay equity regulation and disputes.