How your business can help close the gender pay gap
Closing the gender pay gap makes perfect business sense.As the competition for talent intensifies purpose, ethics and social responsibility are vital to attracting today’s younger talent, fueling business performance.
According to the Government Equalities Office, 88% of British companies reported a gender pay gap that favoured men.
Surprisingly, some studies have shown that personality has a large impact on your payroll. “Being nice gets you nowhere” is an occasionally sad but true saying in the business world. Unfourtuently in the workplace women are more likely to exhibit agreeable behaviours and if they do “disagree” there classed as bossy.
Many clinical psychologists provide assertiveness training to women to help their careers. But this is not the answer.
Leaders need to step up
The responsibility lies not with individual women, but with leaders. Not only does this is display good practise butit will also change your business for the better.
The gender pay gap hurts women the most, but it also impacts everyone. it’s a collective problem that must be solved collectively. The gap harms companies by impacting the bottom-line performance of teams and individuals- especially in cognitive, creative and collaborative fields of work.Doing the right thing will fuel your business’s performance. In order to improve the efficacy of your company, teams, and individual employees, you need to unlock employee potential, creativity and motivation. When it comes to teams, collective intelligence is a significant factor. And when it comes to individuals, personal motivation counts.
How to help:
1) Be transparent about pay
Ensure that salary bands, role definitions and expectations of each role at each level, are clearly publicised. You want to give employees the opportunity to interrogate and challenge where they sit in the salary bands within the context of what is expected of them and the value they bring.If someone who is currently paid fairly insists on a pay rise, review their request and be prepared to reject it. Currently, being less agreeable, men are more likely to ask for a pay rise than women, so by responding to direct requests, you are in danger of being discriminatory. Rather than being stingy, this should encourage you to make sure everyone is paid fairly.it’s also important to continuously audit the processes through which pay rises are requested and rewarded. As part of this, you need to ensure that a pay rise can’t be issued by just one person.
Cain Ullah is CEO and co-founder of Red Badger, and Chair of the Society of Digital Agencies, an independent digital consultancy focusing on the digital transformation of large companies through innovation and delivery expertise. Cain has led the company to boast a client list of major retailers, financial services and media giants including Tesco, HSBC, Sky and Fortnum & Mason.