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U-M Industrial & Operations Engineering pres.

IOE Lunch & Learn Seminar Series: Margret Bjarndóttir, University of Maryland

People Analytics & Closing the Gender Pay Gap

Margret Bjarndóttir Margret Bjarndóttir
Margret Bjarndóttir
This event is open to all IOE PhD students, faculty, and staff. Lunch will be provided. In order to get an accurate count for food, please RSVP by Thursday, February 13, 2020.

Title:
People Analytics & Closing the Gender Pay Gap

Abstract:
In this talk we briefly introduce the fast growing field of people analytics before turning our attention to demographic pay gaps. The gender pay gap is receiving increasing internal attention across organizations. However, managers tasked with addressing this gap (or any demographic gap, for that matter) have limited quantitative tools available to help them. Even if it were possible for them to analyze the gap, they would still need to determine what salary adjustments to make and for which employees in order to create a more equitable pay structure. We address this deficit in tools and knowledge by developing a methodological solution that analyzes the company's pay gap and suggests salary adjustments in order to close it. To create this solution, we introduce a fairness driven optimization formulation that can account for multiple operational constraints. As a side step we show the unintended consequences of applying a cost minimization to this challenge, which can leave organizations in worse off. Finally, we answer the question of how to determine whether the gap is closed, applying equivalence testing in this new context.

Bio:
Dr. Bjarndóttir is an Assistant Professor of Management Science and Statistics at Robert H. Smith School of Business. Dr. Bjarnadóttir’s research focuses on data-driven decision-making, combining traditional operations research approaches with data analytics and machine learning. In addition to the main focus of her work, which is health care, she has applied analytical models to contexts in finance and sports and, most recently, to people analytics, where her work has been covered by outlets such as HBR, Forbes, BBC, HR magazine and others. She teaches quantitative modeling and data analytics at the graduate level both in the traditional classroom format as well as online, and has received multiple awards including the Krowe Teaching Award. Her work has been published in Operations Research, POM and Org Science. Dr. Bjarnadóttir holds a B.Sc. degree in Mechanical and Industrial Engineering from the University of Iceland (2001) and a Ph.D. in Operations Research from Massachusetts Institute of Technology (2008).
Margret Bjarndóttir Margret Bjarndóttir
Margret Bjarndóttir

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