What is Know Your Gap?
Know Your Gap is LiveRem’s free pay gap reporting tool. You can sign up to get an always on view of your pay gap.
What do I get with the free version of LiveRem’s Know Your Gap?
With LiveRem’s free tier, you can access a range of insights on your pay gap. Currently, this reporting is done for gender pay gaps only.
What do I get with the paid version of LiveRem’s Know Your Gap?
With the paid subscription, you get access to the detailed reporting of your pay gaps, and how these gaps compare to the market.
You also get access to LiveRem’s Market Data search, which is a search of the value of any role in the market (in LiveRem’s database), and LiveRem’s People Data feature, which gives you detailed analysis on your employees and how their pay compares to the market.
LiveRem’s paid subscription also gives you historic analysis, turnover statistics and trends over time; all compared against the market.
How do I upgrade to a paid subscription?
Simply select “Upgrade” in the menu bar and follow the instructions.
What is measured?
Currently the free Know Your Gap subscription gives you access to your gender pay gap. You will get your overall company pay gap, the top 3 roles and department where your gap exists, breakdown on cost analysis and headcount split across percentiles, turnover analysis and pay gap history. You will also get a overall measure of how your company is performing against the entire market.
How is it measured?
LiveRem measures pay gaps on both an average and median basis.
What is the difference between average and median-based pay gaps?
The average pay gap is calculated by adding all salaries and dividing by the number of employees, which can be skewed by very high or very low salaries. The median pay gap is the difference between the middle salaries in the male and female pay distributions, giving a more accurate picture of typical earnings. LiveRem measures pay gaps on both an average and median basis.
What is the gender pay gap?
The gender pay gap is the difference in average earnings between men and women. It shows how much less women are paid compared to men, typically as a percentage of men’s earnings. Factors like different job types, experience levels, work hours, and discrimination contribute to this gap.
Why does the gender pay gap matter?
The gender pay gap matters because it highlights inequality in the workplace. It affects women’s economic security and limits their financial independence. Closing the gap ensures fair pay for everyone, boosts morale, and improves overall workplace productivity.
Addressing the gender pay gap is essential for promoting equality and creating a more inclusive environment.
What’s the difference between pay equity and pay equality?
Pay equality means paying everyone the same amount for the same work. Pay equity goes further by ensuring fair pay for all employees, considering the value and requirements of different jobs. While pay equality focuses on identical roles, pay equity addresses fair compensation across different roles and responsibilities.
My system is not available to integrate, how can I use the tool?
Get in touch and we will find a solution for you.