Draft:Trusaic
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| Company type | Private |
|---|---|
| Industry | HR SaaS |
| Founded | 1999 |
| Founder | Robert Sheen |
| Headquarters | Los Angeles, California , United States |
| Website | trusaic |
Trusaic, founded in 1999, is an American human resources software-as-a-service company based in Los Angeles, California. The company is known for extensive research into labor market disparities, particularly focusing on gender, race, and ethnicity and facilitating pay equity.
History[edit]
Trusaic was established in Los Angeles, California in 1999 by Robert Sheen under the name First Capitol Consulting, Inc.[1]
The company develops and supports services to meet American and global pay regulations with a focus on pay equity.[2][3][4][5] These include the Equal Pay Act of 1963, California Fair Pay Act, EU directives, Affordable Care Act, Inflation Reduction Act, etc.[6][7][8]
In 2019, First Capitol Consulting was rebranded as Trusaic due to the expansion of the company's scope of work.[9]
In February 2021, Trusaic launched the ACA E-File solution, a complimentary software that mimics Internal Revenue Service checks to rectify errors before submitting files for Affordable Care Act reporting.[10] Later that year, in November, Trusaic secured two USPTO patents centered on data processing and accessibility in computing.[11]
In 2022 the former soccer player and equal pay proponent Megan Rapinoe joined Trusaic as its Chief Equality Officer and Strategic Partner.[12] Drawing from her advocacy for the U.S. national women’s soccer team, Rapinoe collaborates with Trusaic's CEO, Robert Sheen, to address pay disparities using the PayParity software.[12]
Studies and campaigns[edit]
A 2020 study by Trusaic analyzed pay data from over 500 companies.[2] This study identified disparities in pay based on gender and race/ethnicity, quantifying these at $46 billion and $61 billion, respectively.[2] It noted significant pay differences among executives and in manufacturing roles based on race and gender.[13][2] These findings contributed to discussions surrounding pay equity, including legislative efforts such as Monique Limón's Pay Transparency for Equity Act, enacted in 2022.[14]
In November 2021, Trusaic published a study on American attitudes towards pay transparency, revealing that 11/% of the population prefers not to disclose their salary information.[15] In December, the company launched the Pay Gap Store, an initiative designed to highlight workplace pay inequities, with proceeds supporting pay equality advocacy.[16] The company also published a report citing how traditional holiday bonuses based on a percentage of a worker's salary perpetuates pay disparity.[17] Trusaic suggests companies perform a comprehensive pay equity audit instead of computing bonuses based on salary percentages.[17]
In June 2022, Trusaic introduced the Big Mac Pay Gap Index.[18] This online tool uses the cost of a Big Mac to illustrate the impact of pay disparities on consumer purchasing power.[18][19] During the 2022 Great Resignation, Trusaic sponsored a YouGov study investigating employee preferences for workplace benefits, uncovering interest in unconventional leave options such as "Hangover Leave," "Breakup Leave," and "Social Media Detox Days."[20] In November 2022, Trusaic introduced PayParity, an analytics software designed to assist organizations in achieving and maintaining pay equity.[21][22] Launched on the SAP website, PayParity is compatible with various SAP software solutions.[21][23]
See also[edit]
References[edit]
- ^ "Robert S. Sheen - CEO & Founder at Trusaic".
- ^ a b c d Di Felicantonio, Chase (2021-10-27). "California women, minorities are still being paid much less than their white, male counterparts". San Francisco Chronicle.
- ^ Starner, Tom (2022-07-28). "What HR needs to know about the growing push for pay transparency". HR Executive.
- ^ Wilson, Jim (2023-07-04). "Disney owes female workers over $150 million in pay gap, claims lawsuit". www.hcamag.com.
- ^ Newrat, Allie (2023-01-11). "Everything HR needs to know about pay transparency laws". UNLEASH.
- ^ Miller, Stephen (2022-08-16). "Inflation Reduction Act's Health Care Provisions Could Affect Employers". SHRM.
- ^ "Employee Retention Credit | Internal Revenue Service". www.irs.gov.
- ^ Herzlich, Jamie (2022-09-08). "With IRS budget boosted, will the taxman cometh for you?". Newsday.
- ^ "First Capitol Consulting Is Now TRUSAIC". www.prnewswire.com. 2019-09-25.
- ^ "Trusaic Announces New Product to Simplify ACA Compliance | QSR magazine". www.qsrmagazine.com. 2021-02-11.
- ^ Viscusi, Steffania (2021-05-07). "Trusaic Secures New Patents Focused on Clean Data & Flawless Compliance". www.futureofworknews.com.
- ^ a b Buchholz, Lucy (2022-05-18). "Megan Rapinoe joins Trusaic to eliminate gender pay gap". march8.com.
- ^ Bedayn, Jesse (2022-02-26). "New California bill aims at the combined $107 billion lost to gender, racial pay gap". The Mercury News.
- ^ "NEWSOM SIGNS TRANSFORMATIVE PAY EQUITY LEGISLATION BY SENATOR LIMÓN". Senator Monique Limón. 2022-09-27.
- ^ Williams, Geoff (2022-02-14). "Sharing Salary Information With Co-Workers: Benefits and Drawbacks". U.S. News.
- ^ Ma, Michelle (2021-12-28). "Inside the world's first Pay Gap Store - Protocol". www.protocol.com.
- ^ a b Colvin, Caroline (2022-01-07). "Holiday bonuses can perpetuate pay inequity, report says". HR Dive. Retrieved 2024-01-23.
- ^ a b Trusaic. "Big Mac Pay Gap Index Shows What the Pay Gap Means For You". www.prnewswire.com (Press release).
- ^ O'Connell, Brian (2022-06-14). "McDonald's Big Mac Used to Measure 'Pay Gap'". TheStreet.
- ^ Gibbs, Alice (2022-08-25). "'Hangover Leave' Officially Tops List of Perks Americans Want at Work". Newsweek.
- ^ a b "PayParity Solution from Trusaic Now Available on SAP Store". TecHR. 2022-11-09.
- ^ DeRose, Adam (2023-04-21). "Pay equity is vital for talent, engagement, and collaboration, but HR teams struggle to address it". HR Brew.
- ^ "Digital Commerce Platform". store.sap.com.