In a recent report on the gender pay gap around the world, Britain has come out at just number 13, lagging way behind Scandinavian countries Iceland and Sweden who topped the list along with New Zealand.
Luxembourg and Poland have shown the largest improvements and progress for women in work.
Also scoring low in the Women In Work Index by PriceWaterhouseCooper was the USA, Spain and Germany – with Portugal, Austria and the United States experiencing the greatest fall in rankings on the Index over the period since 2000.
According to Bloomberg, Britain’s gender pay gap remains a key drag on progress. According to the PWC Index, should the UK raise its game and achieve Swedish levels of equal employment for women, the country would see a 9% increase in GDP – equating to $257 billion.
The PWC Women In Work Index isn’t simply an exercise in one-upmanship. This index is collated from data collected annually to help businesses around the world make changes to their strategies and policies in order to develop more equality within the workplace.
At DRN we offer bespoke services to support and defend individuals who may be experiencing sexism, discrimination or inequality at work. We believe that in 2019 there is no reason for a business to have to undergo such an ordeal. If the right policies are incorporated in the first place, equal pay and equal opportunities for progression and board room visibility are offered right from the start.
PriceWaterhouseCooper have developed some ideas to help businesses make equality a priority. These five “foundations for a gender-equal workplace” show that making small changes can be simple and incredibly effective.
Foundation 1: Align Diversity and Strategy
Set out how diversity and inclusion supports your business priorities and ensure your strategy reaches beyond your workforce to include customers, suppliers, investors and wider society.
Foundation 2: Use Data
Use data to diagnose potential areas for focus, set targets and measure progress. Workforce surveys, tracking the career paths of high potential individuals, and exit surveys can help gauge why talent is leaving. “What gets measured gets done”
Foundation 3: Drive accountability from the top
Ensure someone within the leadership team is accountable for improving diversity and inclusion and this responsibility is cascaded throughout the organisation.
Foundation 4: Be honest
Focus on addressing shortcomings, as well as celebrating achievements, and set out plans for accelerating progress to show that you are committed to addressing diversity and inclusion challenges.
Foundation 5: Set realistic objectives and a plan to achieve them
Set measurable goals, decide how they will be achieved and assign business leaders who are accountable for meeting these goals.
Our corporate lawyers are highly experienced in diversity and equality law, and can help and support you with reinforcing or re-draughting your corporate policies. If you would like to speak to one of our professional corporate solicitors about equality in the workplace, equal pay or any other business law matter, please contact our friendly team on 01282 433 241.