London, 6 March 2018 – A third of organisations are looking to address their gender pay balance after preparing for pay gap reporting requirements that come into force later this month and early April, accordingly to a survey of governance professionals by ICSA: The Governance Institute and recruitment specialist The Core Partnership.
The poll was fairly evenly split in terms of responses, with 32% of respondents considering action to address their gender pay balance, 28% not doing so, and the remaining 40% unsure. Most (86%) are on course to meet the reporting deadline, with only 2% not ready and 12% unsure if they will be ready.
Actions that organisations are considering to address the issue include:
- 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
- Including a mandatory female candidate on the shortlist for every vacancy.
According to Peter Swabey, Policy and Research Director at ICSA: The Governance Institute:
“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.”
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For further information, please contact Maria Brookes, Media Relations Manager:
mbrookes@icsa.org.uk
+44 (0)20 7612 7072
+44 (0)7890 649 143
Notes to Editors:
- ICSA: The Governance Institute is the professional body for governance. We have members in all sectors and are required by our Royal Charter to lead ‘effective governance and efficient administration of commerce, industry and public affairs’. With over 125 years’ experience, we work with regulators and policy makers to champion high standards of governance and provide qualifications, training and guidance. Website: www.icsa.org.uk
- The Core Partnership is a niche market recruitment consultancy working with Company Secretaries and their teams to advise on and resource their specialist interim and permanent manpower needs. With relevant professional backgrounds spanning back to the 1980s, The Core Partnership has a wealth of knowledge of the development and dimensions of the role of the Company Secretary. The team provides market advice on relevant qualifications and experience, conducts salary and benchmarking exercises and works throughout the UK and overseas recruiting at all levels to this specific discipline. Website: www.core-partnership.co.uk
- Previous ICSA-Core poll findings can be found at www.icsa.org.uk/knowledge/governance-and-compliance/indepth/comment/quick-question