Closing the gender pay gap
Wed Jul 15, 2015 10:48 AM
Firms under pressure to disclose data on the gender pay gap amongst staff
The government is pressing ahead with plans to force large firms to disclose data on the gender pay gap amongst staff.
David Cameron said the move would “pressure” firms into boosting women’s wages, as he vows to eliminate the gender pay gap “within a generation”.
Jean Martin, talent solutions architect at best practice insight and technology company CEB, comments:
“It is great to see further evidence of commitment to diversity from the government. Our research shows that companies with diverse leadership generate twice the revenue and profit growth as those without, so a continued focus on closing the gaps to gender equality at every level of business is vital for a strong economy.
“The UK may have hit the Davies review targets but more progress is needed. CEB data shows that it’s not an issue of a skills gap, in fact the on-the-job abilities of women and men are very similar, so there is no good reason as to why a salary divide exists and why their contributions are recognised differently. This is one of a number of issues that women face daily, which accumulate to slow down their journey up the corporate ladder – or even stop it altogether.
“The reality is that for many segments of the workforce, including women, true equality is still a long way off. Government intervention to combat this is welcome but employers need not wait for it. The smart companies that act quickly to level the playing field for all employees can send a powerful message to the market and reap the benefits of a diverse, talented workforce to help them thrive.”