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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.