Very soon, all employers with 250 or more employees will need to report their gender pay gap (GPG). New GPG reporting may look like just another compliance challenge, but GPG data will shine a powerful light on the action needed to achieve real change on gender diversity.
Leading organisations are working hard to improve gender diversity at senior levels. But a real breakthrough is still lacking. There are more women in the boardroom now than five years ago, but a man is still 4.5 times more likely to make it onto the executive committee than a woman starting her career at the same time . So far, having more women on the board has failed to be replicated for women in the executive pipeline.
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However, the new requirement for public and private organisations to report their GPG is set to change all that. GPG reporting, based on the draft legislation as it stands, means organisations must reveal:
This reputational risk adds new urgency to the diversity agenda. GPG reporting will also bring important opportunities for organisations to make current efforts on diversity more effective.
Five key questions every organisation must ask:
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