This month, McAfee celebrates three years of maintaining pay parity. Compensating employees equally for their contributions, regardless of gender or ethnicity, is one of the many ways we create a culture where all can belong and an environment where everyone is valued.
But equal pay sounds like a given, right?
It absolutely should be. However, unconscious bias and a slew of contributing factors, such as differences in how men and women negotiate pay raises and starting salaries, means inequality can slowly creep in across a business and become pervasive unless actively monitored. This means maintaining pay parity requires constant work and attention.
As the first cybersecurity company to achieve pay parity, we know first-hand the commitment involved in such an undertaking. We also know the overall impact for our employees, including greater trust, engagement, and loyalty. More than this, we believe simply, that pay parity is the right thing to do.
Today, I’m sharing more about our journey, our process, and our work to maintain pay parity.
How we began
Our pay parity journey began in 2018. Few companies had achieved pay parity at the time, but we realized it was an essential part of ‘walking the walk.’ It’s well documented that diverse teams perform higher, and when employees feel seen and valued for their contributions, they are more productive and increasingly innovative.
We developed a framework and conducted our first annual audit in 2018. When results revealed pay disparities across nine of our 45 countries, we were unwavering in our commitment to resolve swiftly and to put measures in place to maintain any pay parity drift over time.
Within six months, we spent $4 million adjusting salaries to achieve pay parity – this is something most compa ..
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