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Fair – Equal Pay for Equal Work

Originally Posted on September 25, 2020
Last Update on September 24, 2020
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Problem

Studies show that men earn more than women because they negotiate more often, but when women do so, they often get punished for it. [1][2]

The unfairness often leads to higher employee turnover, and companies are looking for the solution and actively working on the issue. [3] 

Solution

Fair connects with payroll systems and analyzes how fair the company’s compensations are.

Fair also shares aggregated comp data so employees are informed and feel fair, then generates a no-negotiation compensation policy to fill the pay-gap.

Opportunity

A survey on the tech industry shows nearly 40% of employees leave their jobs because of company mistreatments, and this turnover costs $16 billion every year. [4]

This is a massive loss but could be a huge opportunity to build a business on it. 

Business Model

Fair offers services through a monthly subscription, targeting 10K ARR per client. Growth is primarily driven by inbound marketing + sales.

[1] https://hbr.org/2018/06/research-women-ask-for-raises-as-often-as-men-but-are-less-likely-to-get-them 

[2] https://www.weforum.org/agenda/2018/04/women-are-still-not-asking-for-pay-rises-here-s-why/ 

[3] https://stories.starbucks.com/stories/2018/starbucks-commitment-to-gender-racial-pay-equity/#:~:text=Starbucks%20has%20achieved%20%E2%80%94%20and%20maintained,work%20in%20the%20United%20States.  

[4] https://www.kaporcenter.org/tech-leavers/ 

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