Ongoing Pay Equity Analysis
Edgeworth Economics Partner Dr. Nathan D. Woods was retained by a financial services company to provide ongoing data analysis of the firm’s compensation models and to address any potential causes for concern. Dr. Woods worked closely with the company’s legal counsel and key stakeholders to gain a thorough understanding of the firm culture and the organizational and individual factors that affect compensation.
Equipped with a deep understanding of the organization, Dr. Woods identified, collected, and validated the necessary data to develop economic modelling consistent with the context in which compensation decisions occur at the firm. Dr. Woods led a team of Edgeworth economists in rigorously developing and testing alternative compensation models and investigating gaps uncovered through the analysis. The Edgeworth team also modelled potential plaintiff, federal, and state agency approaches to estimating pay differences and key drivers for differences in those approaches relative to the firm’s unique compensation models.
Dr. Woods presented the data and analysis as well as actionable recommendations to the firm’s leadership and legal counsel and has provided ongoing updates to the compensation studies to evaluate sensitivities to pay changes over time and new employee onboarding and attrition.