July 2023, Zürich, Switzerland – With the European directive seeking to put an end to pay secrecy by March 2023, companies are feeling the pressure to comply with regulations that require full disclosure of salary information. This measure, designed to expose existing gender pay gaps and provide a basis for fair salary comparison among employees, has left organizations scrambling to meet the guidelines. Stepping into the spotlight to address these challenges is fairaly, a Swiss-based startup that combines the power of analytics and artificial intelligence (AI) to achieve ESG goals and retain and attract talent through facts.
Fairaly offers a comprehensive solution for businesses that need to navigate these new regulatory waters. Serving as a one-stop shop for all processes around DEI within a company, fairaly proposes directly how to implement salaries for new hires and pay raises to ensure compliance and fairness.
By leveraging generative AI, the fairaly team enables its clients to easily enrich their salary data with market benchmarks so HR and business leaders can see how the company’s salaries compare to others in a similar market. Last but not least, fairaly automatically provides an employer branding module where companies can promote their truly data-based DEI company. At a time when talent are hard to find and talent acquisition is a major challenge for companies, employer branding automation offers refief. “In addition, companies that act in a socially responsible manner have a better chance of attracting talent and convincing investors”, so the founder N. Habicht of fairaly.
She states that “Leveraging AI, companies can eliminate inequalities (not only between men and women), comply with equal pay regulations, and at the same time promote diversity, equality, and inclusion (DEI) with just one click. Our software helps companies to identify salary discrepancies instantly.
As new hires are onboarded and salaries change during a year our platform automatically and continuously analyzes the changes and provides instant feedback if there’s a risk of non-compliance. With the help of intelligent chatbots we provide another way to access information faster in a more natural way.
“Our mission is to reach equality not in 300 years as predicted by UNO, but earlier with the help of technology”
The fairaly team is composed of renowned AI entrepreneurs and leaders from various industries. They help enterprises and SMEs to safe time, be compliant and at the same time have a real social impact.
For further information“
Image courtesy of fairaly