Beyond Compensation
The Strategic Imperative of Pay Equity and Gender Savings Gap for HR Teams in Asia Pacific
Even in the absence of pay equity legislation across much of Asia Pacific, global regulatory trends are driving change, and forward-thinking organisations aren’t waiting to act. To stay ahead, many are embracing transparent compensation practices, recognising that true equity requires more than just salary adjustments. It demands a rethink of how rewards are structured, from benefits to retirement contributions and beyond.
This shift reflects a new way of viewing fairness in the workplace. For HR teams in Asia Pacific, the challenge is to move beyond addressing pay disparities alone and consider the full spectrum of rewards. In doing so, they’re not just responding to market pressures – they’re redefining what it means to be a fair and competitive employer in a global economy.
Key Takeaways
- Pay equity is only growing in importance, compelling organisations to adopt the most forward-thinking strategies.
- A total rewards approach to equity incorporating benefits, retirement contributions and other forms of compensation, is key to sustainable growth.
- Being proactive and taking a holistic approach can lessen the compounding impact of current and future inequities.
- Gender savings gap is expected to be double the gender pay gap, on average, because of factors including compounding over time and also longevity differences.
- Up to 70% of the gender savings gap is nonsalary related, due to factors including gaps in workforce participation, and different attitudes by gender to financial decisions and risk.
Download our report to explore more pay equity and transparency trends and insights or talk to our team.