Does your organisation have equal pay in hand?
Next week we celebrate International Women’s Day, with the global theme, ‘Pledge for Parity’. Whilst the focus is on the achievements of women, we also need to be aware that progress has slowed in many countries, so urgent action is needed to accelerate gender parity.
One aspect of parity that is receiving much-needed attention is Pay Equity. Take a look at some of the recent actions taken across the globe:
- The latest figures show that women in the UK still earn, on average, 20% less than men. The UK Government recently announced that companies with more than 250 employees would be forced to reveal their pay gap. Companies that fail to address pay differences between male and female employees will be highlighted in new league tables.
- In January, The Obama administration proposed a rule that will force American companies with 100 employees or more to report pay data by gender, race and ethnicity to further advance equal pay for women in the workplace. According to the USA Institute for Women’s Policy Research, women make up almost half of the workforce, are the main breadwinner in four out of 10 families, and receive more college and graduate degrees than men, but make only 79 cents for every dollar earned by men.
- At home in Australia, as many of us are well aware, the gender pay gap sits at 18.8% nationally when last reported in May 2015. Last year, the Workplace Gender Equality Agency (WGEA) reported that almost three quarters of Australian employers haven’t done a gender gap analysis, and haven’t taken steps to ensure men and women are paid fairly.
This concerning data gave rise to the Pay Equity Ambassadors, a group of CEOs who are leading the way in bringing a focus and commitment to pay equity in Australia.
WGEA, in partnership with the Pay Equity Ambassadors, launched the ‘In Your Hands’ campaign, to encourage all CEOs to get equal pay ‘in hand’. It requires organisations to analyse and monitor payroll data and, most importantly, take action to address any unexplainable or unjustifiable gaps.
Is your CEO a Pay Equity Ambassador? Is your company signed up to the ‘In Your Hands’ campaign?
We encourage every company to get behind this initiative, and take action to improve pay equity in their workplace.
It’s only fair.