You’ve heard the stats before: men earn more on average than women. And it’s true: A Glassdoor analysis (1) found a 22.9 percent difference in pay for men and women in the UK.
Gender equality isn’t just about pay: greater gender diversity is good for business and makes hiring easier.
● Gender-diverse companies are 15 percent more likely to earn above-average revenue (2)
● 3 in 5 say they would not apply to work at a company where a pay gap exists (3)
Promoting salary equality at your company requires analysis, commitment and changes to how you hire and manage employees. Follow these five tips to address the gender pay gap at your organisation.
1. Conduct a Gender Pay Gap Analysis
Gather your data and enlist an analyst to take a look at your salary and bonus data by gender, department, tenure, age, education, and location. For a step-by-step guide, see How to Analyze Your Gender Pay Gap: An Employer’s Guide.
2. Pledge Your Commitment
Show candidates your commitment by taking the Equal Pay Pledge on Glassdoor. Demonstrate your commitment to equal pay by sharing the results of your study with employees and celebrating any adjustments made.
3. Make Equitable Offers
Since research shows that women and older workers are less likely to negotiate, leave less room for negotiation in your offers. Evaluate pay scales at least annually to become more transparent in your approach to pay.
4. Equalize Performance Reviews
Performance reviews, promotions and bonus distributions can be affected by unconscious bias relating to behavioural traits, favouritism and male-based definitions of success. Provide manager training and controls to ensure women and men are being evaluated fairly.
5. Start the Conversation
Encourage employees to use their voice by posting reviews and salaries on Glassdoor.