December 20, 2021 | Fairlyeven
We all want to resolve gender pay gap solutions, but unfortunately, with the current rate of progress, this pay gap between genders will not be closed for another 60 years, which is extremely slow.
A lot can be said and done regarding the gender pay gap solutions, but some practical strategies that organizations and businesses can implement to resolve the gender pay gap are as follow:
Flexible working hours is a simple yet effective way to help reduce the gender wage gap. Women often take reduced job offers or work fewer hours than what's required just so they can manage their family obligations and maintain some balance in life for themselves as well as those close around them- something we should all appreciate. Flexibility would allow these women full-time commitment without sacrificing any essential moments with loved ones.
Businesses should consider publishing an accompanying narrative report which offers a detailed and thorough analysis of the wages of all employees. This can be used to identify businesses' shortcomings and provide them with time-bound goals for closing any identifiable gaps in pay between males and females, roles or promotions within their company, as well as offer suggestions on how they might go about doing so.
Staying up to date with the latest trends in recruitment and promotion can help businesses attract more diverse talent. To resolve pay gaps between the genders, it's crucial to have a transparent process with opportunities for all employees at every level within the company, so everyone has an equal chance at progressing.
The Fawcett Society encourages transparency when it comes to salary, which is seen as taboo. Campaigners hope that one day this will change, and women will be able to request the details of male comparators if they suspect pay discrimination.
One primary reason for the gender pay gap may be that women are less likely than men to negotiate their salaries. This could leave them earning lower wages and looking like they're settling without even trying.
To rectify such issues and resolve gender pay gaps, employers must encourage all employees to negotiate their wages during reviews. This will allow all colleagues to challenge their salaries, and it will give them a realistic salary expectation for a particular job role.
Fairly Even is a team of specialist gender diversity consultants who can work with you to identify the strategic priorities that will support your company in closing the gap and reaping business benefits as a result.
Fairly Even will dive into the gender pay gap audit data to provide you with a detailed breakdown of your organization's priorities. From there, we will develop short-term and long-term recommendations that are tailored specifically for improving women’s status in what might be an uneven playing field at work.
Sounds good? With our help, you can eliminate your gender pay gap for good. We'll provide valuable monitoring data and insights to know how effective each measure is in reducing the difference between men's and women's earnings across departments or organizations.
December 16, 2023 | FairlyevenBuilding Your Financial Health and Wealth with Cardinal Rules of Money