Today, Assistant to the President and Director of the Gender Policy Council Jennifer Klein and Assistant to the President, Senior Advisor to the President, and Director of the Office of Public Engagement Stephen Benjamin hosted a discussion with Deputy Director of the Office of Personnel Management Rob Shriver, private sector employers, and equal pay experts on why pay equity is good for business.
Participants, who included executives from Microsoft, Mastercard, and Salesforce, discussed policies they have put in place to advance pay equity at their companies. In addition, pay equity experts from JUST Capital, EDGE Certified Foundation, and OpenComp discussed the importance of working with the private sector and companies of all sizes to advance fair pay practices and strategies.
Participants emphasized that policies and practices that promote pay equity are not just good for workers-they're good for businesses' bottom lines. Policies aimed at promoting workplace equity, including equal pay, help promote workforce inclusivity, worker retention, and a culture of transparency and trust which, in turn, lowers costs related to recruitment, hiring, and training.
Today, as part of the Biden-Harris Administration's commitment that the Federal government serve as a model employer, the Office of Personnel Management announced a proposed rule to advance pay equity for Federal workers that would prohibit the use of a job applicant's prior salary history when making hiring decisions and setting pay for Federal employees. This newest step to eliminate discriminatory pay practices addresses an issue that can contribute to and compound wage gaps for women workers and workers of color.
Participants agreed that leaders in both the private and public sector have a part to play in ending discriminatory pay practices that lead to wage gaps, and committed to partnering together to adopt policies that are good for workers and good for business. Administration officials underscored the importance of leading on these issues by example, thanked the participants for their leadership, and reaffirmed the White House's commitment to pay equity.
