Sequoia Introduces a New Capability to Help Employers Build, Manage, and Share Pay Ranges
SAN FRANCISCO, Feb. 03, 2023 (GLOBE NEWSWIRE) — Sequoia®, the pioneer in Total People Investment, launches Comp Management on the Sequoia People Platform to help employers manage their end-to-end compensation processes and comply with new pay range laws requiring the disclosure of pay scales to current and prospective employees.
The platform’s new add-on solution has completed the first phase of client rollout and is available for all Sequoia clients as of February 1st. With pay range disclosure now required in California, New York City and the states of Colorado and Washington, and more current and prospective employees asking for salary ranges, there is growing pressure for employers to be both transparent and competitive with pay for every role in their organization.
“As companies enter the pay transparency discussion, they quickly realize they’re faced with the tough task of defining their compensation philosophy, reviewing their job architecture and determining their market competitiveness in order to make critical decisions around how pay ranges will be executed,” said Kyle Holm, vice president of Total Rewards Advisory at Sequoia. “It’s a big job, but greater pay clarity – even in areas where it’s not mandated – will make employers even more attractive to top talent in the years ahead.”
Sequoia Comp Management System will help bring together fragmented employee data to help employers establish job leveling, manage pay ranges with real-time market data, and properly communicate these ranges to current and prospective employees. In addition to the capabilities of the platform, Sequoia also provides advisory services to help clients navigate the strategy, planning, and execution of their compensation program.
About Sequoia
Sequoia is the pioneer in Total People Investment. We help companies address their top people-related business challenges such as improving retention, attracting top talent, and increasing people-spend ROI. With expert advisory services across compensation and benefits and a powerful platform, we connect employee total rewards programs with insightful people analytics so companies can manage their global people investment in real time to better meet the needs of their evolving workforce. Visit Sequoia.com or follow us on LinkedIn to learn more.
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