A third of organisations are looking to address their gender pay balance after preparing for pay gap reporting requirements that come into force later this month and early April, accordingly to a survey of governance professionals by ICSA: The Governance Institute and recruitment specialist The Core Partnership.
The poll was fairly evenly split in terms of responses, with 32 per cent of respondents considering action to address their gender pay balance, 28 per cent not doing so, and the remaining 40 per cent unsure. Most (86%) are on course to meet the reporting deadline, with only 2 per cent not ready and 12 per cent unsure if they will be ready.
Actions that organisations are considering to address the issue include:
- A thorough review of pay and talent pipeline planning
- A focus on flexible working conditions
- Diversity networks
- Reviewing how to promote women to the higher paid jobs
- Including a mandatory female candidate on the shortlist for every vacancy.
According to Peter Swabey, Policy and Research Director at ICSA: The Governance Institute:
“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.”