19 DECEMBER2023W MAN LEADERGLOBAL W MAN LEADERGLOBAL THE ROLE OF FLEXIBLE WORK IN CLOSING THE GENDER PAY GAPIn response to the serious issue of the gender wage gap, the Fawcett Society has produced new statistics and a thorough study. The emphasis is on the crucial significance of flexible work arrangements, particularly in high-quality, high-paying employment, as a driver for narrowing the gender pay gap more quickly. The data reveals a troubling trend: women are disproportionately accessing flexible employment linked with lower-paying, lower-quality roles, such as part-time, insecure work, and zero-hours contracts.The following evidence is startling from the Fawcett Society's report:Access to flexible employment would enable 40 percent of non-working women to take on more paid job, compared to 32 percent of non-working males and 37 percent overall.Women are substantially more likely than males (14 percent to work part-time).Men are more likely than women to have access to desired types of flexible employment, such as term-time-only work (21%), job sharing (18%), and job sharing (22%).Notably, 77 percent of women are eager to apply for employment that offer flexible work schedules. The Fawcett Society's Chair, Harriet Harman, highlights the importance of reform, noting that the gender wage gap is decreasing too slowly and that immediate action is needed to unlock women's full potential in the workforce.BRIDGING THE GAP - FROM INTENT TO ACTIONOn this Equal Pay Day, companies must go beyond words and take concrete efforts to close the gender pay gap. According to Dr. Zara Nanu MBE, Director of Fair Future of Work Strategy at XpertHR, technology gives unparalleled tools for finding, assessing, and eliminating wage discrepancies. The trick, however, is to translate this information into proactive, continuous activities.The findings of XpertHR's investigation highlight the current condition of affairs. While 75 percent of senior executives believe their organizations promote pay fairness, only 47 percent of employees agree. HR leaders understand the consequences of inactivity, with 47 percent claiming that ignoring pay equity leads to lower employee retention.Furthermore, the significance of openness is obvious. Companies with public job postings show a decreased gender pay gap (9 percent vs. 19 percent), highlighting the importance of compensation transparency. The duty for driving pay equality initiatives is a source of controversy, with 45 percent of business executives arguing for CEOs and 25 percent of senior HR leaders arguing for the CHRO.As we commemorate Equal Pay Day, companies must transform their commitment to pay fairness into effective action. Addressing salary discrepancies, increasing transparency, and embracing flexible work arrangements are critical steps toward a more equitable and inclusive workplace future. The time for change has arrived, and businesses must take the chance to create a workforce in which gender does not determine earning potential.
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