Expert insight for better gender pay gap reporting
Due to the gender pay gap, on 18th November each year, women in the UK effectively stop earning a salary. Despite increasing awareness of the issue from the boardroom to the sports arena, the UK gender pay gap actually increased in 2021 from 14.9% to 15.4%. In the finance sector, it’s as high as 30%. But the business case for gender parity is a strong one: closing gender pay gaps at work could add £150 billion to UK GDP by 2025. Our team of specialist diversity consultants will work with you to analyze your gender pay gap reporting more effectively and to respond to the insights that fuel meaningful progress.
Women in Management
Only 3.6% of the CEOs of FTSE 250 companies in 2020 were women
Male employees are more likely to report their career being positively impacted by meritocracy
Pay gap data specialists
How to close the gender pay gap – expert analysis and action-planning
We recognize that the gender pay gap is a complex problem—no magic bullets here. But by drawing on 30 years of experience in DEI consultancy, we’re best placed to address the structural and cultural barriers to gender parity that can affect even the best-intentioned of organizations. The payoff? Improved levels of engagement and retention, productivity and innovation, and customer service and representation.
Work with us and we’ll support you in building a viable organizational narrative around your gender pay gap auditing, reporting and analysis. We’ll also help you articulate your senior-level commitment to gender equality and inclusive working, as well as your communications strategy on equal pay. This will build momentum and engagement among your staff and brand currency and value among your customers.
Reporting is only the beginning
Gender pay gap action-planning for practical, data-driven next steps
We’ll delve deep into your gender pay gap data to highlight the priority areas for development. Then we’ll provide a straightforward set of short, medium and long-term recommendations in key business areas, including:
- Recruiting and retaining women
- Job role design, pay and reward (including any bonus gap)
- Building gender-inclusive cultures
- Addressing barriers to progression
- Flexible working and pregnancy/maternity
- High-potential talent programs
- Role-models, mentoring, staff networks and ERGs
Gender Pay Gap FAQs
What is the gender pay gap?
The gender pay gap is a term used to describe the discrepancy between the average hourly wage of men and women. The Equal Pay Act of 1963 makes it illegal for an employer to pay different wages to a man and a woman in the same position. However, most companies still have more men in higher-paying roles. In the US, the gender pay gap stands at 16.9%, and is even higher for women who work part time.
Why is there a gender pay gap?
The gender pay gap is a longstanding issue with historical significance. It is difficult to pinpoint one reason for it, as the causes are complex, however, social norms can be one explanation. Women are influenced by society to pursue career paths that have traditionally lower levels of pay. What’s more, women are less likely to enter into managerial roles, both due to the expectation for them to care for children, but also prejudice that exists in society overall.
How can the gender pay gap be reduced?
Organizations have to actively try and combat the gender pay gap in order to reduce it. Steps like actively considering diversity, inclusion and equality are essential for this purpose. Incorporating policies with the aim of increasing the number of women in management, as well as ensuring diversity across teams and different professions, can help shrink the gap. However, there is no silver bullet, and the solution largely depends on the nature of the gender pay gap in your company. EW Group can help assess, analyze and find the best way forward to battle this.
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