POWERED UP - AN INSIGHT BY THE IN GROUP
Remuneration will pay
It’s easy to fall behind market pay once talent is through the door. How can organisations achieve pay equity longer term? “The challenge around pay equity is not just about propelling underrepresented groups into management positions but also about retaining them at the top,” said Kelly. “That means a change of infrastructure. Pay inequalities will often return as firms are dynamic, hiring new people and reshaping constantly. It’s about recognising the practices in place that cause the initial imbalance. This includes looking into the ways in which you source, how you develop people, how you promote; none of which cost money, but they are about HR foundation practices.” What strategies has Kelly found most effective at Investigo? “Those that both showcase our commitment towards pay equity and measure and review pay equity regularly. This approach, with a multiyear DEI strategy, is essential. To achieve true pay equity, you need an intentional, ongoing commitment to equal opportunity and fair compensation. Data needs to be effectively captured and monitored, reviewed and published to hold the business to account whilst ensuring the DEI strategy helps attract, and of course, include underrepresented groups.”
CREDIT - PEXELS
There are so many more options allowing women to feel more included in the workplace, such as greater internal mobility. There’s the opportunity to have that equality in the household because of the pandemic.” But there’s still work to do to make the workplace more inclusive to women in the business. “Family planning should be high on the agenda. Encourage people to talk openly about it. Policies making it easy for couples to split childcare, such as shared parental leave, would be a game-changer in any organisation. Statutory pay is still geared towards women staying at home, and this needs to change.”
We’ll continue to feel the inequalities exacerbated by the pandemic
The pandemic has had a massive effect on all of us, but sectors like retail, hospitality, and food services, which tend to have a higher population of women, have been among the worst hit. School closures and lack of childcare support have also had a bigger impact on women, as the statistically largest source of caregiving to children. This is making an already challenging situation almost impossible. “Balancing life decisions and career opportunities has always been very challenging for many women, but it was made worse during the pandemic,” said Melanie Robinson, Principal Consultant, Investigo. “Organisations who have adopted more favourable working practices, such as hybrid working, and let women and men share childcare responsibilities with part-time working or job shares, have been able to retain staff.” Once again, the key for organisations is to listen to their people and understand what they really want. “People are looking for different things now. Hybrid working is now a given, and if companies don’t adopt it, potential hires will look elsewhere. It’s important to feel included and have your wellbeing considered. Benefits that aren’t necessarily financial, like the flexibility to pick up your kids from school, are more important because they support diverse working groups like parents, co-parents and extended child carers.” The pandemic has really changed the way we view work and our place within a company. At the same time that it has widened gender inequality, Melanie strongly believes it’s given us the chance to make things better. “People want more accountability for their own lives rather than being trapped in this pre-pandemic grind or Groundhog Day.
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Our key takeaways
The key trends in DEI over the next year will revolve around getting to know your people, understanding which inclusive benefits will appeal to them individually, and then evolving as they do. Pay equity will help employers ensure balance at board level, but they can only achieve this through an ongoing commitment to equal opportunity and fair compensation, backed up by data that allows them to spot and fix any disparities. At the same time, companies are starting to realise that talent acquisition isn’t enough. It’s about retaining your people long-term and giving them a level playing field to showcase their abilities and achieve progression. This is what forges a path to career equity. It needs to be allied to a long-term DEI strategy that attracts and includes underrepresented groups. While the pandemic has presented us with challenges that still remain, it’s also given us the means and the understanding to meet those challenges. People want to work for an organisation that cares about their wellbeing and gives them the flexibility to weave their work into their lifestyle. It’s by listening to our people and understanding what’s important to them that we can be truly inclusive today and build for tomorrow.
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