What is the price of Pequity’s Pay Reporting?
Pequity prices based on number of employees. Cost for this program was calculated based on the hosting and maintenance of the software to generate the report, as well as the cost of our compensation expert’s time reviewing and being available for expected questions on the process. The cost on average is less than a cup of coffee per employee per month ($1-$3).
Companies who sign by March 27, 2023 lock in a discounted 2023 rate as seen below.
*price may change based on exact headcount
This offering is included for existing Pequity customers, or with the purchase of an additional Pequity module. Speak with your Pequity agent to learn more!
How long does it take for Pequity to generate and review each file?
It takes approximately 1 week from the date the company has uploaded their data file and or integrated their HRIS to having the final report created, reviewed and sent back.
Timelines will shift if the company 1) fails to provide adequate data, 2) the data is extensively messy or incomplete, 3) there are remediations to the data requested but there is any delay in receiving that information (mainly for those who choose to upload data).
What are the requirements of the new California Pay Reporting law?
All employers with over 100 employees or contractors, who have at least 1 employee in California, are required to submit a pay report to the California Civil Rights Department by May 10, 2023 formatted in compliance with the California Civil Rights template.
Am I able to stay compliant with Pequity?
Yes! You simply need to go to the California Civil Rights Department website and look up the template and format required to be compliant.
The benefit of Pequity’s program is it saves hours on data cleaning, and solves the anxiety of whether you’re doing something noncompliant thanks to our compensation experts review. That said, we also are happy to support you if you'd prefer to compile on your own. At a glance, compliant reporting requires:
Data from the correct 2022 snapshot that is representative of employees at that time
Reporting of hours worked for exempt, nonexempt and contractors
All non-required employees filtered out of report before filing
Each employee mapped to one of the 2,520 reporting codes required for submission based on the combination of gender, race, type of worker and pay range
A count and roll up of number of unique reporting codes and median pay by each rollup