Toolkit published to help organisations bridge the gender pay gap
The Government backed - Women's Business Council's Men as Change Agents group - has published a toolkit of practical advice aimed at business leaders and CEOs at FTSE 350 companies to help them close the gender pay gap in their organisations.
Organisations have to publish data annually and the next deadline is 4 April 2019 (30 March for public sector employers).
The media gleefully picked over the 2018 statistics and organisations with significant gaps were criticised. So, organisations whose figures have flat lined or got worse should expect some flak.
What steps can organisations take to improve their figures?
The toolkit recommends the promotion of flexible and agile working, encouraging utilisation of shared parental leave and the creation of talent pipelines to help women move into more senior roles. Currently only 29% of board membership is female and only 13 CEOs and 21 Chairs in FTSE 100 companies are women.
The three step challenge
The toolkit asks CEOs to:
1. Take personal responsibility for ensuring 33% of executive level business leaders are women by 2020.
2. To sponsor 1-3 women from within your organisation who have the potential to secure an executive role within 3 years.
3. To be an active and visible "change agent" by being part of the wider business conversation to achieving gender balance,diversity and inclusion.
Can the toolkit help smaller organisations?
Yes, the toolkit includes lots of helpful suggestions, which smaller organisations can utilise.
Minister for Women and Equalities Penny Mordaunt said: By addressing the inequalities and cultures behind the gender pay gap it’s not just women who benefit. We all do. And men are recognising that it is the smart and right agenda for them to support this.”