A Simple Step That Takes You Far!
PAY PARITY It has been quite a summer as it relates to gender issues and gender integration in particular. Articles from all different venues and regions around the world are discussing women’s role in the global economy, in the US, the need to reframe the behavior of young girls so they become more interested in math and science, issues of equal access to political power, high profile stories about women in IT seeking pay equality (Ellen Pao suit against venture capital firm and her departure from Reddit), all quite illuminating. All of this discourse is good for business. It helps create sufficient interest and conversations related to how to reframe ways company hire and compensate women; how to retain female talent; what are the strategies companies are sharing to move forward with these issues, what are the most significant steps to create a higher degree of long term impact. The issue on pay parity is becoming a big topic in the US and Europe both at private and governmental level. It is a simple step that companies both big and small see as hitting bottom line results, let me share some examples. In Europe, the EU published a thorough account that identified government and private sector efforts to promote pay parity. An online tool, Logib, has been developed in Germany, Luxembourg and Switzerland to enable companies to analyze pay and staffing structures and verify if equal pay exists between male and female employees. Reports analyzing the reasons and proposal of actions to tackle the gender pay gap are also foreseen with this tool. In Austria, a ‘Wage and salary calculator’ has been set up which provides up-to-date and easily accessible information about pay customary in a sector/place. I invite you to read the full report – Tackling the Gender Parity in the European Union 2014. In the US, companies like Salesforce are implementing pay parity as the main buster to enhance performance, retention and promotability. Startups are also looking at the most significant strategies to help boost performance. Take a look at SumAll an analytics startup: Transparency is a core tenet at data analytics startup SumAll. It’s what’s helped the four-year old company grow at a rapid clip, according to its cofounder and CEO Dane Atkinson. He says SumAll has realized 1000% growth each year of operation and has amassed 350,000 clients. “We have lower turnover than the industry average which is 30 %–50 %.” He says no one leave the company because they feel like someone
lied to them about salaries which Atkinson believes is the reason for “a big hunk of turnover.” Fast Company Magazine – Lydia Dishman. As we conclude today, I need to point out that the Czech Republic was showcased in the EU report above mentioned: In the Czech Republic, an Equal Pay Day has been organized by Business and Professional Women (BPW) since 2010. The 4th Equal Pay Day in the Czech Republic took place on 24 April 2013.
I invite you and other business colleagues to continue forward with this effort, pay parity is a simple step that yields great results... Can You Afford to Ignore this?
By Elisabet Rodriguez Dennehy, President Rodriguez and Associates LLC
C zech L eaders
C zech L eaders III/2015
Published on Oct 26, 2015
Interview with Vladimir Dlouhy, President of the Czech Chamber of Commerce saying: I don't like the distorted image of entrepreneurs in our...