Use Case: Fair Living Wage Analysis
2021-12-20
Issue
The Client has stated that they are committed to ensure that every employee is paid a living wage as certified by the Fair Wage Network (www.fair-wage.com) and Global Living Wage.
Barrier
Turnover is always an issue. The recent war on talent has made this more challenging. The Client thought reminding employees Client had 2,000 different types of Reward, and over 600 types of pay across 100+ countries. Calculating an estimated living wage for every employee without a single data source for ALL reward is a herculean task. The total cost of completing a project such as this using a third party was estimated to be $1m a year.
Solution
uFR automatically extracts and digitizes all reward data for all employees in all countries and consolidates into digital platform that is joined to individual employee profile data. This data can be instantly queried and analyzed to automatically create reports that satisfy Living Wage reporting. With access to the consolidated global data, the global reward team was able to pass required reports to the Fair Wage Network in a single secure transfer.
Benefits
As a stated goal by the CEO, the Client needed to make sure they were certified by the Fair Wage Network. The tool replaced any need for expensive third-party consultants to be certified.
The Client secured certification from the Fair Wage Network by supplying high quality data with an auditable process for calculating the reward for every employee, which is estimated to have a significant value for joining the movement (which is based on boosting their brand credentials for sales and employment).
With the created database, the Client was able to optimize returns on human capital by maximizing employee satisfaction and motivation through ensuring they paid at or above the defined Living Wage for every country or region.
The Client became confident in the claim that they were a Living Wage employer.
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