Six key factors for employers to help reduce their gender pay gaps have been revealed in a new study.
Genuinely diverse recruitment, a ‘grow your own’ approach to talent, leading by example and an open, high-communications culture are key areas that employers can address to help eliminate gender pay gaps.
The factors are a result of a new case-study report, published by the Institute for Employment Studies (IES). FDM Group, an international professional services organisation focusing on information technology, is the sixth employer to publish its gender pay reporting statistics.
The company stands out in its male-dominated sector and beyond – FDM Group has a zero per cent median pay gap, compared with the tech sector’s 25 per cent and the UK’s 18 per cent median wage gap.
The research explored how FDM Group was able to eliminate its median gender pay gap and highlights the positive impact that an open and diverse culture can bring.
The study identified six key factors that have led to FDM Group’s success in almost eliminating its gender pay gap. These were leadership; investing in talent; appropriate HR and diversity policies; measuring and monitoring; an open, high-communications culture; and a multi-pronged approach.
Duncan Brown, Head of HR Consultancy at IES and author of the report said, “While the continuing gender pay gap of almost 20 per cent is indeed a national and social problem that will not be easy to close, FDM illustrates just how effectively individual employers can act to eliminate any male to female ratio differentials and how this can underpin their business success.”
Sheila Flavell, Chief Operating Officer, FDM added, “We would be working towards gender gap equality regardless of the new regulations.”
“Our model takes the best people, regardless of background and gives them the training and skills, making a diverse workforce a fundamental tenet of our business model and culture.”