• Create clear salary ranges for different positions on your team. Work closely with leadership and your HR department on setting benchmarks. Make this information public so that your direct reports have clarity around where everyone stands.
• Be transparent about salary while hiring. Include the salary range when you advertise for a role. Evaluate compensation based on skills, expectations, and responsibilities for the role.
• Conduct quarterly or annual reviews with each team member. Discuss and review their compensation and ask if they feel they are fairly compensated for their tasks.

Pay gaps are a huge problem in companies around the world. On average, women earn less than their male counterparts. Women of colour may earn over $1 million less in lifetime earnings due to unequal pay.

Some companies are starting to address this problem. However, organisations often only ...