PAY PARITY Meaning and
Definition
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Pay parity refers to the concept of providing equal or equitable compensation to individuals for performing similar jobs or work of equal value, regardless of their gender, race, ethnicity, or other protected characteristics. It aims to eliminate pay discrimination and ensure that all employees receive fair remuneration for their contributions towards an organization or in a specific profession or industry.
Pay parity promotes the principle of equal pay for equal work, emphasizing that individuals performing comparable roles or functions should receive commensurate wages or salaries, regardless of any non-job-related characteristics. It underscores the importance of assessing job responsibilities, required skills and qualifications, and other relevant factors that determine the worth or value of work.
Pay parity is often associated with addressing the gender pay gap, which signifies the disparity between the average earnings of male and female employees. Achieving pay parity requires analyzing compensation structures, identifying any discrepancies, and taking corrective measures to ensure that discriminatory practices or biases are eliminated. This may involve conducting pay audits, implementing transparent and objective pay scales, and adopting policies that prohibit pay discrimination.
By striving for pay parity, organizations and societies aim to foster fairness, diversity, and inclusion in the workplace. It serves as a fundamental component in creating a level playing field, promoting equal opportunities, and enhancing overall social and economic justice.
Common Misspellings for PAY PARITY
- oay parity
- lay parity
- 0ay parity
- pzy parity
- psy parity
- pwy parity
- pqy parity
- pat parity
- pag parity
- pah parity
- pau parity
- pa7 parity
- pa6 parity
- pay oarity
- pay larity
- pay 0arity
- pay pzrity
- pay psrity
- pay pwrity
- pay pqrity
Etymology of PAY PARITY
The term "pay parity" is composed of two words: "pay" and "parity".
1. "Pay" originates from the Middle English word "paie" which means "satisfaction" or "contentment". It further evolved from the Old French word "paie" meaning "payment" or "wage". The Old French word can be traced back to the Latin word "pacare" which means "to appease" or "to satisfy".
2. "Parity" is derived from the French word "parité", which was used to describe the equality or equivalence of something. It comes from the Latin word "paritas", which means "equality" or "similarity", derived from "paris", meaning "equal".
