New feature helps companies forecast when they’ll hit representation goals based on current practices, and model scenarios to help achieve goals faster
As companies post salary ranges to comply with new laws, they are grappling with investor and employee demands for more transparency into diversity and opportunity. Against this backdrop, Syndio is expanding its groundbreaking OppEQ product with Forecaster, a new representation forecasting tool. OppEQ Representation, which launched at the beginning of the year, gave companies the ability to measure current demographic benchmarks against available talent, and develop meaningful diversity goals. Now, with Forecaster, companies can forecast when they’ll hit representation goals based on current practices and model different scenarios to see their impact on diversity trajectories.
“Pay transparency knocked down the door, and opportunity transparency is right on its heels. Employers are under mounting pressure not only to set diversity goals, but also ensure they achieve them, while keeping on the right side of the law,” said Maria Colacurcio, Syndio CEO. “The value in OppEQ’s forecasting is not just seeing a trajectory, but gaining insight into the accelerants and barriers to hitting your goals. It helps leaders understand where to invest resources, and deliver on the next wave of accountability and transparency. It will fuel real change.”
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“Syndio launches new OppEQ feature that helps companies forecast when they’ll hit representation goals.”
Corporate leaders are hungry for these insights. In Q3 2022, Syndio signed the most new business in its history. The majority of new customers – 54% – signed on for Syndio’s full, expanded platform that includes access to both opportunity and pay equity analytics tools rather than pay equity alone. This is evidence that even though pay transparency is in the headlines, companies need to address opportunity equity to build trust with their people.
“Building an equitable workplace is critical for attracting and retaining talent, mitigating risks, and ensuring relevance with today’s consumers,” said Adrienne Gemperle, Chief People Officer, Sweetgreen. “Syndio’s Workplace Equity Platform helped us zero in on our biggest areas of opportunity, and showed us how we could attain our goals years sooner through targeted efforts aimed at those opportunities. Before Syndio we did not have that level of visibility into our data or insight into the solutions.”
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In addition to OppEQ, Syndio’s Workplace Equity Analytics Platform includes:
- PayEQ – An always-on view of pay equity that helps companies analyze, resolve, and prevent pay disparities due to gender, race, ethnicity, or any other demographics.
- Pay Finder – Helps hiring teams set fair starting salaries and stop pay inequity before it starts. Pay Finder combines internal pay data with market-informed salary ranges to provide a holistic view of what’s both fair and competitive for each individual candidate.
- Expert Advisors – A team of data scientists, technology experts, and legal professionals who specialize in workplace equity and provide ongoing best practice advice — from global compliance and DE&I goal setting to ESG and human capital disclosures.