Pay equity metrics, policies and practices are viewed as key elements of an ESG strategy, and one that employers are being tasked to adopt with a sense of urgency.
The implementation of the Pay Equity Act is an important commitment by the Government of Canada to close the gender wage gap and help ensure workers receive equal pay for work of equal value. This commitment is echoed through various provincial legislations being implemented across British Columbia, Ontario and Quebec. Additional regulations are expected, as the concept of pay reporting becomes more widespread and normalized.
The Canadian Pay Equity legislation stipulates that all Canadian employers subject to the Act must post a final pay equity plan by September 3, 2024.
KPMG in Canada’s team of experienced professionals have the capabilities to help organizations understand their legal and compliance obligations as it relates to Canadian Pay Equity legislation, at both the federal and provincial levels. We can help guide you through the multi-step pay equity process with the help of KPMG’s proprietary pay equity tool to support your businesses in developing a pay equity strategy that aligns with corporate objectives to support and enable your workforce.