OFCCP Scheduling Letter Webinar: Statistical Tests
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If your company has received an OFCCP scheduling letter this webinar is for you. You need to perform a Compensation Analysis, and the OFCCP’s Revise Directive 2022-1 has raised the level of technical analysis the OFCCP’s Desk Auditors will use, and likely will expect from you. The OFCCP has made it clear that the OFCCP Desk Audit will use regression analysis or other systematic analyses. While Contractors are free to choose other methods, Contractors can gain a significant advantage by investigating which systematic/statistical method best explains the company’s compensation methods, before the OFCCP starts applying the OFCCP’s method to your company’s individual-level compensation data.
This webinar will describe the statistical tests listed in the OFCCP’s Revised Directive 2022-1. Many commentators say they are confused about what some of the eight statistical tests in the OFCCP Revised Directive are. Don’t let a lack of understanding prevent you from picking the best test(s) for your company.
This webinar will give you an understanding of each of the 8 tests listed in the OFCCP Revised Directive:
- multiple regression analysis
- decomposition regression analysis
- meta-analytic tests of z-scores
- compa-ratio regression analysis
- rank-sum tests
- career-stall analysis
- average pay ratio
- cohort analysis
OFCCP’s Scheduling Letter likely will request the individual-level compensation data from supply and service contractors for OFCCP statistical analysis of the contractor’s compensation process. OFCCP will likely perform one or more of the eight statistical tests listed in the Revised Directive. And OFCCP is likely to request documentation of the compensation analysis you performed.
If you can find the right test for your company in advance of any OFCCP review, you can provide the results to OFCCP, potentially averting a protracted review by the OFCCP, ranging across any/all of the eight statistical tests listed above. In addition, knowing the results of one or more of these tests prior to OFCCP review gives you time to change compensation where needed.
While many commentators/experts express ignorance of some of the OFCCP’s named methods, ignorance is not bliss when it comes to this set of well-known statistical methods, especially when your knowledge of these methods can help you choose the right one to understand and explain your company’s compensation policies.
OFCCP’s Scheduling Letter likely will request the individual-level compensation data from supply and service contractors for OFCCP statistical analysis of the contractor’s compensation process. OFCCP will likely perform one or more of the eight statistical tests listed in the Revised Directive. And OFCCP is likely to request documentation of the compensation analysis you performed.
If you can find the right test for your company in advance of any OFCCP review, you can provide the results to OFCCP, potentially averting a protracted review by the OFCCP, ranging across any/all of the eight statistical tests listed above. In addition, knowing the results of one or more of these tests prior to OFCCP review gives you time to change compensation where needed.
While many commentators/experts express ignorance of some of the OFCCP’s named methods, ignorance is not bliss when it comes to this set of well-known statistical methods, especially when your knowledge of these methods can help you choose the right one to understand and explain your company’s compensation policies.
Presenter
Dr. Daniel S. Levy, is the lead Labor Econometrician and designer of EquityPath. He has extensive experience in labor economics, discrimination testing, econometrics, and software design. He has analyzed pay equity issues for the Department of Labor and has served as an expert witness in state and federal courts. Previously, Dr. Levy was the Global Leader of Economic and Statistical Consulting for Deloitte Financial Advisory Services and Arthur Andersen Business Consulting. He has held research and consulting positions at Charles River Associates, the Rand Corporation, SPSS Inc, and The University of Chicago Computation Center. His PhD is in Economics from The University of Chicago.
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