This publication, from the Government Equalities Office in partnership with Deloitte, sets out what closing the gender pay gap really means; how businesses can benefit; the importance of transparency in driving progress and successful action employers are taking.
In the report’s foreward, The Rt Hon Nicky Morgan MP, Education Secretary and Minister for Women and Equalities said:
Last year the Prime Minister pledged to ”end the gender pay gap in a generation”. In doing so he threw down the gauntlet, challenging us to look at what we need to do to see true gender equality in the workplace. We have made significant progress in recent years with the current gender pay gap the lowest on record, but we are not complacent. Frankly, there is no place for any gender pay gap in today’s society, everyone must have a chance to fulfil their potential.
This publication produced by Deloitte and sponsored by Think, Act, Report sets out some of the challenges, opportunities and innovative action businesses are taking to successfully tackle this problem. These businesses understand that giving women the opportunity to fulfil their potential is not only the right thing to do, it’s good for the economy and it’s good for business.
In fact, McKinsey estimate that the UK could add £0.6 trillion of additional annual GDP in 2025 by fully bridging the gender gap.
Moreover, women working in the UK still earn on average less than men because too few get to the top and too many are concentrated in lower paying sectors and occupations.
Read on page 48 how our Woman of Achievement Award Winner 2015, Emma Codd, drove change at Deloitte.
Consider reading Why Women Don’t Ask by Sara Laschever and Linda Babcock. It’s an eye opener.
Visit our searchable Knowledge Bank for other publications on diversity, inclusion, leadership.