Pay gap findings trigger action for third of firms
Companies are adopting a range of responses to their pay gap analysis finds a new survey of governance professionals. However, a large number are either doing nothing or unsure of next steps.
6 March 2018
A new study released today by ICSA: The Governance Institute and recruitment specialist The Core Partnership shows that 32% of respondents are considering action to address their gender pay balance.
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What steps are companies taking to improve leadership diversity?
The survey, sent to company secretaries in a range of FTSE350 companies, as well as charities and organisations in the health sector, found the actions organisations are considering to address the issue include:- a thorough pay review and talent pipeline planning
- a focus on flexible working conditions
- diversity networks
- mentoring
- reviewing how to promote women to the higher paid jobs
- including a mandatory female candidate on the shortlist for every vacancy.
Other news from Relocate Global:
- Gender equality weighs on UK talent attraction
- What are the lessons from the BBC pay gap storm?
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Are the UK's largest companies ready for the gender pay gap reporting deadline?
Most (86%) of the 82 companies responding believe they are on course to meet next month's reporting deadline, with only 2% saying they are not ready and 12% unsure if they will be ready. However, with International Women’s Day this week focusing minds on how to close the persistent global gender pay gap, estimated to take 200 years or more to close, 28% of companies surveyed say they are not considering taking any action following their findings and 40% are unsure.'Focus on getting more women into senior positions'
Commenting on the findings, Peter Swabey, Policy and Research Director at ICSA: The Governance Institute, said:“It is clear from the responses that while not all organisations have a gender pay gap on a grade or role basis, women are underrepresented at more senior levels which creates the overall gender pay differential.“Those industries which are typically more male dominated will doubtless find it more challenging to make changes than others.“The focus should be on getting more women into senior positions, and a wide range of initiatives covering recruitment, promotion, succession planning and retention ought to be considered. ‘In particular, messages about equality of opportunity should be reinforced from the bottom up and considered in the context of wider diversity.”For related news and features, visit our Mobility Industry section. Entries are now open for 2018’s Relocate Awards and will close on the 31st of March. Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.
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