Trusaic has officially announced the launch of OpportunityParity, which is a workplace equity solution designed to help companies promote fairness throughout the entire employee lifecycle. According to certain reports, OpportunityParity comes decked up an ability to address equity concerns in an organization’s hiring, promotion, as well as retention practices. This it does by banking upon diverse global directives including those from the OFCCP, the EEOC, and the European Union (the EU Pay Transparency Directive). Owing to that far-reaching nature, the solution is able to deliver on its promise irrespective of geographical boundaries or regulatory frameworks. Talk about the whole value proposition on a slightly deeper, it brings to the fore intuitive visualizations that, on their part, allow you to conceive in-depth insights into workforce demographics. Next up, we have the product’s ability to let you compare gender and race demographics with industry and company-size benchmarks. Joining this would be the availability of talent flow analytics where one can seamlessly monitor changes in hiring, promotion, and retention rates over time so to analyze trends in internal talent movement. Markedly enough, users can also leverage the solution to forecast workforce trends and demographic shifts, something which should go a long distance to inform their strategic plans.
We referred to OpportunityParity’s promise of providing talent flow analytics, but we still haven’t discussed is that the solution is further well-equipped to help you analyze factors affecting the talent flow. Here one can, in practice, use regression analysis to identify components driving differences in hiring, promotion, and retention rates across demographic groups. Rounding up highlights would be the product’s integration capabilities that enable it to extract data directly from an organization’s HCM source system. OpportunityParity does so using its assortment of certified Workday, UKG, SAP and ADP integrations.
“Workplace equity software enables employers to account for opportunity equity in their workforce strategy,” said Robert Sheen, CEO of Trusaic. “Opportunity equity is the latest strategic initiative to encourage progress in closing pay gaps and creating gender parity. As pay equity legislation continues to evolve, the risk increases for those organizations who don’t take workplace and opportunity equity seriously.”
With the solution’s specific features now duly covered, we must turn our attention towards some practical benefits that OpportunityParity can be expected to realize following its implementation. Here, we begin from its ability to preach equitable career advancement. The stated feature involves instilling equity into every aspect of the talent management process, from recruitment to retention. Then, there is the prospect of analyzing and fine-tuning opportunity equity, a prospect which is rooted in identifying and addressing disparities across hiring, promotion, performance assessment, and retention. Making the product even more attractive is its knowhow in terms of helping you meet your individual workplace equity objectives. This facility, in particular, is not just concerned with realizing the absolute goal, but it also enables you to track your progress over time using data-driven insights. Another detail worth a mention talks to the solution’s potential in building a whole culture of trust and transparency. Such a culture enables the user to fulfill their overarching ambition of elevating human capital, improving people sustainability, and solidifying social responsibility metrics.
Surely, the product in question looks pretty comprehensive on its own, but it will actually arrive on the scene as one of the many parts of Trusaic’s wider workplace equity software suite, a suite which presently includes solutions like PayParity®, SalaryRangeFinder®, OpportunityParity™, and Global Pay Data Reporting™.
