A new CA ANZ playbook, Narrowing your gender pay gap, has set out an agenda for action for the accounting profession to ensure that the workplace is more diverse and inclusive. The playbook contains detailed resources and guidance, including case studies from leading organisations on steps they have taken to address the gender pay gap.
Analyse the numbers
Conducting a gender pay gap analysis is considered a first step in giving an organisation solid data to work with. Discovering why an organisation has a gender pay gap will provide a platform to consider actions to be taken to address it and eliminate gender discrimination.
Conducting a gender pay gap analysis is considered a first step in giving an organisation solid data to work with
Selecting the right approach for an organisation is important. These include a more granular ‘by-level’ gender pay gap, showing the difference in pay between men and women in pay bands or tiers; or by groups such as managers or graduates; or by departments.
Another option is the ‘like-for-like job’ gender pay gap that shows the difference in pay between men and women in the same or similar roles.
Close the gap
There are a number of measures organisations can take to close the gender pay gap and create inclusive career pathways. These include:
Start
Hold discussions at the executive/partner level to get everyone onside to address the issue. Conduct a pay gap analysis.
Strategy
Educate employees and decision-makers about unconscious bias. Assess the workplace and embed diversity and inclusion measures.
Hiring
Diversify to include women and minorities. Create equal opportunities for employees.
Promotion
Hold frequent performance reviews that are transparent. Publish promotions and pay.
Remuneration
Make sure you offer men and women equal remuneration for the same role. Conduct annual market remuneration reviews.
Mentorship
Accelerate representation of women at senior levels. Create networks to enable women to learn from and support each other.
Flexibility
Normalise career breaks for men and women. Embrace and create a flexible workplace.
The report concludes that closing the gender pay gap is not only the right thing to do but there is a strong business case for it, too. By creating a diverse and inclusive workplace in which women are encouraged and supported in their careers, organisations will be in a better position to secure the talent they need to thrive.
More information
Read Chartered Accountants Australia and New Zealand’s playbook, Narrowing your gender pay gap.
ACCA and CA ANZ have formed a strategic alliance to build member value and shape the future of the profession.
