Elevance Health Pay Equity Strategy Implementation

This case study outlines Elevance Health's implementation of Syndio’s Pay Finder™ as part of their strategy to maintain equitable pay for new hires. The document describes the challenges faced by Elevance Health in ensuring consistent pay equity across their workforce, particularly in the context of hiring practices. It details how the Pay Finder tool empowers recruiters and managers by providing insights into salary ranges based on various candidate characteristics, thereby facilitating informed pay decisions. The case study highlights the positive outcomes of using Pay Finder, including a 25% reduction in pay equity remediation costs, a 6% increase in offer acceptance rates, and a 6% decrease in time to fill roles. Additionally, it discusses the importance of transparent conversations about pay, which have fostered trust among team members and candidates. The document concludes with a forward-looking statement on the potential for expanding the use of Pay Finder in guiding all pay decisions within the organization.