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Pay equity has been a long-pressing issue in the workplace, and it's becoming an even bigger priority as calls for fair pay grow louder nationwide. As President Biden announces new executive orders to create equitable pay and more states like Colorado introduce pay transparency laws, employers must have compensation strategies that abide by new legislation and meet employees' expectations.

According to Gartner, 72% of leaders believe that pay equity is a high or very high priority, yet just 34% of employees believe their pay is equitable. This disconnect should be a wake-up call for employers to start understanding why pay equity matters and begin building (and communicating) equitable and transparent pay structures.

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