Did you know that the gender pay gap in the UK is still around 18%? This means that women are effectively working for free for two months out of every year. This has a huge negative impact on both workers and companies. This blog post will explore the gender pay gap in more detail and discuss why it needs to be reduced. It will also provide some ideas and solutions for how companies can proactively reduce the gender pay gap in their workplace.
Understanding the Gender Pay Gap
The gender pay gap is a difference in average earnings between men and women. In the UK, the gender pay gap is currently 18%. This means that, on average, women earn 18% less than men for doing the same job. There are many reasons for this discrepancy, including sexism, discrimination, and a lack of equal opportunities.
The gender pay gap has several negative consequences for both workers and companies. For workers, the pay gap means that they are effectively working for free for two months out of every year. This can have a massive impact on their quality of life and financial stability. It can also mean that women are less likely to be promoted or receive training and development opportunities.
For companies, the gender pay gap can have a number of negative consequences as well. First of all, it can mean that companies are missing out on talented workers. Secondly, it can create a hostile and unprofessional work environment for women. Finally, it can damage a company’s reputation and make it less attractive to potential employees. Therefore, eliminating the gender pay gap at your company will result in a motivated, talented, and passionate workforce with the potential for greater productivity.
How Can Your Company Reduce the Gender Pay Gap?
So, what can companies do to reduce the gender pay gap? Here are a few ideas:
- Review your equal pay policies and make sure they are up-to-date and in line with current legislation.
- Conduct equal pay audits to identify any discrepancies in pay between men and women.
- Promote more women into senior roles and make sure they are paid the same as their male counterparts.
- Offer equal opportunities for training and development to both men and women.
- Encourage flexible working arrangements for both men and women. This will mean that parents tasked with being the primary caregiver for children (most often women) are not barred from career progression opportunities.
- Make a public commitment to reducing the gender pay gap.
How Will This Benefit Your Company?
Reducing the gender pay gap is not only the right thing to do; it’s also good for business. Here are a few reasons why:
- It can help you attract and retain talented workers.
- It can create a more equal and professional work environment for women.
- It can improve your company’s reputation and make it more attractive to potential employees.
- It can help you to comply with equal pay legislation.
- Reducing the gender pay gap is a win-win situation for both workers and companies. It’s good for business, and it’s the right thing to do. So why not get started today?
These are just a few ideas, but there are many other ways that companies can reduce the gender pay gap. The most important thing is to be proactive and make a concerted effort to close the gap. By working together, we can create an equal workplace for everyone. For more information on equal pay and women’s employee rights, take a look at Aspiring to Include. For specialist job opportunities from inclusive employers, take a look at our live jobs board!