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Demystifying Pay Transparency and Compliance

In this episode of Compliance Lab, attorney Sarah Sawyer from Offit Kurman and labor economist Rose Healy from Resolution Economics discuss the critical topic of pay equity. They explore the meaning of pay equity, associated laws like the Equal Pay Act of 1963, and state-level equivalents designed to ensure equal pay for equal work across various demographics. The conversation delves into complexities surrounding pay transparency, compliance requirements, and proactive measures employers can adopt to ensure fair pay practices. They also highlight the importance of regular audits, understanding market standards, and maintaining clear communication to avoid pitfalls and litigation. Whether you're an employer navigating multi-state regulations or an employee curious about your rights, this episode provides valuable insights and practical advice on achieving and maintaining pay equity in the workplace. 00:00 Introduction to Compliance Lab 00:16 Understanding Pay Equity 00:51 Federal and State Pay Equity Laws 01:41 The Role of Pay Transparency 03:33 Challenges in Ensuring Pay Equity 04:12 Compliance and Proactive Measures 07:21 Practical Steps for Businesses 11:06 The Importance of Communication and Policies 13:40 Defending Against Litigation 14:46 Conclusion and Future Outlook