Sceptics not believing in the gender pay gap – I have some bad news for you. The gender gap is real and exists in many large UK organisations. Xactly surveyed 250 C-Level executives from organisations with 250 employees and more, and 85 per cent of them said there is a difference between how much men and women are paid to do the same work.
More than two thirds (68 per cent) said they had witnessed the gender pay gap personally. Half of respondents (49 per cent) believe this is due to ‘natural prejudice against women’ within an organisation. Almost two thirds (62 per cent) believe the gap exists because women take time off work because of children. Almost three quarters (72 per cent) think those women will never catch-up to male peers, unless they leave their company.
The good news is that everyone is aware of the problem and are looking to address it. More than nine in 10 (92 per cent) said they’d be ‘disappointed’ to see the gender pay gap in their organisation. More than four fifths (82 per cent) have a strategy to tackle the issue, but 38 per cent said they lacked much needed data analytics.
“The key to closing the pay gap is to understand why it persists. Part of the problem is that most businesses lack the ability to access, analyse and action the data needed to highlight the gap,” said Tom Castley, Vice President EMEA at Xactly. “Data is the first and critical step in helping to readdress the pay balance, it is the solution and businesses need help to make it work for them.” The full report can be found here (opens in new tab).
Image source: Shutterstock/Sergey Nivens