January 28, 2019
Or… would you say it’s not your top priority right now? With Brexit, Davos… everything else going on?…
That’s right. The Gender Pay Gap is something that we tend to remember around the 8th of March, International Women’s Day. With the ambition to get the Gender Pay Gap report finalised and submitted by the 4 April 2019 deadline. Plenty of time to get it right, right?
Not really. This time around, arguably, employers should be taking the issue more seriously. What gets measured gets done, they say. Indeed, this year’s Gender Pay Gap reports will be the true test for UK employers. Companies will be expected to prove that they have taken the issue seriously and made meaningful changes aimed at narrowing or illuminating the Gender Pay Gap altogether.
Interestingly, last year just over 25% of reporting companies chose not to provide any form of narrative to explain their figures. It’s a missed opportunity altogether. If you spend time measuring and reporting your results – you should spend some more on explaining what’s hiding in plain sight behind the numbers.
Demystifying your Gender Pay Gap numbers is not only good for employee morale – it’s also vital for productivity. It’s something that could help safeguard you from potential brand / reputation damage. Truth be told, many still mistakenly think of the Gender Pay Gap as “the gender wage gap”. Yet, it’s not an equal pay issue. And companies need to continue making it clear through transparent, authentic and honest communication.
Don’t forget – as an employer, it’s an opportunity to enhance your employee value proposition. Many in the industry are asking whether the recruitment processes are biased, or why women are not progressing at the same rate as men or are choosing to opt out and not return to the workforce. It may be one of the questions that’s worth proactively addressing – as you communicate your Gender Pay Gap numbers this year. Gen Z talent is increasingly looking for roles within organisations that take their employee’s well-being and work-life-integration seriously. And who offer comprehensive career management programmes to staff.
The onus is also on us as employees to make the best out of every opportunity for ourselves and the business. As part of your New Year’s Resolutions commit to be the guardian of your own career. The CEO of your life. Be passionate. Be Bold. Push boundaries. Ask for more.