A survey of governance professionals by ICSA: The Governance Institute and The Core Partnership found that 32 per cent are considering action to address their gender pay balance, with 28 per cent not doing so, and 40 per cent unsure. The poll found 86 per cent are on course to meet the reporting deadline, with only 2 per cent not ready and 12 per cent unsure if they will be ready.
Organisations are considering a range of approaches to addressing gender pay imbalances including a thorough review of pay and talent pipeline planning, a focus on flexible working conditions, diversity networks, mentoring, reviewing how to promote women to the higher paid jobs and including a mandatory female candidate on the shortlist for every vacancy.
ICSA: The Governance Institute policy and research director Peter Swabey says: “It is clear from the responses that while not all organisations have a gender pay gap on a grade or role basis, women are underrepresented at more senior levels which creates the overall gender pay differential. Those industries which are typically more male dominated will doubtless find it more challenging to make changes than others. The focus should be on getting more women into senior positions, and a wide range of initiatives covering recruitment, promotion, succession planning and retention ought to be considered. In particular, messages about equality of opportunity should be reinforced from the bottom up and considered in the context of wider diversity.”