5 micro-actions to drive Equal Pay in your workforce

Does Santa arrive on February 24 with Christmas presents for your daughters?

As parents we strive to treat our children the same, after-school activities, homework, pocket money, household chores – boys and girls get the same, the thought of making our daughters wait until almost the end of February for their Christmas presents whilst watching their brother open theirs on Christmas Day seems unthinkable!

This unthinkable however becomes a reality once we enter the grown up world of work. The average women in Switzerland needs to work 551 days longer than a man to earn the same salary, for the same work – this year’s equal pay day was on February 24. According to the European Commission, at the current rate of progress, the salary gap will close by 20772, by then my daughters will be 78 and 76 years old! And I (probably) sadly will not be around to witness this fundamental measurement of equality take place.

Government legislation regarding non-discrimination has been in force for years, and 73 countries in Europe have even gone so far as to legislate the representation of men and women on company boards. How come in-equal pay is still acceptable for equal work?

We can all make a difference to closing the gap by carrying out these conscious micro-actions every day:

Drive equal-pay for men and women with PwC

1. Set starting salaries based on internal benchmarks – not previous salary levels

As human beings, we are all susceptible to unconscious biases, one of these is called ‘anchoring’. This is where our mind gets fixed on an initial number (the previous salary), with the result that when it comes to offering a new salary, there is a tendency to anchor too much on someone’s current salary instead of what the job is actually worth.

A micro-action Google has taken is to exclude the candidate’s previous salary data from the hiring process. The results are clear – during 2015, women hired at Google received a salary increase on joining that was 30% higher on average than their male counterparts4.

Another simple action is to use pre-defined salary grids, the pay gap starts when people enter the workforce (in the UK, male apprentices are paid upto 2.0oo GBP p.a more than their female colleagues)5 widely communicating and tracking the adherence to these starting salaries will level the playing field.

 

2. Regularly track and monitor your workforce pay – know your numbers

Take emotion out of the equation by monitoring on an ongoing basis the compensation of your talent to identify and action any discrepancies. Research shows that 25% of Companies5 are not regularly tracking this data. In addition, we all want to attract the very best talent to our organization, over 90% of potential candidates will choose to work for an employer that publically states they pay equally.

 

3. Be aware of the “Breadwinner” bias – seek a challenger for your pay decisions

Have you ever awarded a higher pay rise to a man because you knew they were the sole income earner of the family? I know this is a hard question to answer no to truthfully. A solution could be to benchmark and seek input and challenge from peers and HR. When comparing multiple data sets, unconscious biases are mitigated and decisions based on fact and proof.

 

4. Review your reward policies to ensure fairness in remuneration practices

HR policies are the building blocks of how we manage the hire to retire cycle of our employees, often they can be: written, published and then set in stone. I encourage you to review these policies and practices to ensure there is fairness in all remuneration and recognition procedures. Be transparent with your workforce, clearly stating what you value and recognize, and how they will be assessed and rewarded. This ensures everyone has the tools and knowledge at their fingertips of what it takes to “get on”.

 

5. Become an EQUAL-SALARY employer

Finally, and most importantly, “Talk the Walk” – by becoming an EQUAL-SALARY employer. Every company and culture has a different approach to how they talk about salaries, for some it is taboo and others a dinner party conversation topic. The key is to recognize and understand where are the gaps (for top earners the gap is higher than low earners – 20% vs 5%7) and put in place process interrupters (e.g. user salary grid when discussing promotions) to permanently ensure we are proactively and objectively rewarding and promoting the men and women who deserve it.

Through these micro-actions every one of us can ensure Santa arrives on the same day for everyone.

 

PwC are partners with the EQUAL-SALARY Foundation – certifying companies that pay men and women equally around the globe.

 


Source

1http://bpw.ch/en/Politics/Equal-Pay-Day

2http://www.europarl.europa.eu/news/en/news-room/20170203STO61042/gender-equality-time-to-close-the-gap

3http://ec.europa.eu/justice/gender-equality/files/womenonboards/factsheet_women_on_boards_web_2015-10_en.pdf

4 https://rework.withgoogle.com/guides/pay-equity/steps/structure-your-pay-process/

5http://www.fawcettsociety.org.uk/policy-research/the-gender-pay-gap/?gclid=CjwKEAjwq5LHBRCN0YLf9-GyywYSJAAhOw6m7Ktl04l0_tK2GcqmxhlGIAgszYn5npUvYSPqcNzXVBoCg4Dw_wcB

6 http://www.pwc.com/gx/en/about/diversity/iwd/iwd-female-talent-report-web.pdf

7 http://www.equalpayportal.co.uk/statistics/

Assess your organisation’s Diversity & Inclusion program with PwC

We know that Diversity and Inclusion (D&I) is good for business. Organisations that invest in D&I report seeing a number of advantages, such as an increased ability to attract talent, greater innovation and improved financial performance.

At PwC, we’ve found that the most effective D&I programs are comprised of four dimensions:

  • Understanding the Facts of Today
  • Building an Inspirational Strategy
  • Equipping Leaders for success
  • Creating Sustainable Movement

Take our short survey to assess your organisation’s Diversity & Inclusion program

Our new survey enables you to self-assess your maturity across those dimensions.

Click here to take our short survey and get your personnal Inclusion & Diversity assessment

The survey is short and easy to use, and when you finish the survey, you’ll receive an assessment of where your program is strongest and where there are areas of opportunity, as well as providing a benchmark of how you compare to others in your region and industry.

Take our short survey and get your personnal Diversity & Inclusion assessment

For more information on interpreting the results for your organisation or advice on how to become more Diverse and Inclusive, please contact Sue Johnson:

Sue Johnson
Senior Manager, Inclusion & Diversity, PwC Geneva
sue.johnson@ch.pwc.com / +41 58 792 90 98

PwC’s NPO Breakfast Spring 2017 – breaking barriers in delivery

Breaking barriers in delivery

Switzerland, and more specifically Geneva, is an important global hub for international Not-for-Profit organisations. These play a vital role in key humanitarian activities worldwide. In spite of the importance of this work, which benefits a growing stakeholder community, these organisations can find themselves confronted with a number of formal issues in an increasingly complex environment.

Artificial intelligence and equal pay are two topics rising in importance in the business world. How do they benefit your organisation? How do they impact your organisation’s activities?

We would like to address these matters and share key questions asked by NPO managers around artificial intelligence and equal-salary at our upcoming
NPO Breakfast on Tuesday, 20 June.

The breakfast will provide a great opportunity to meet with PwC experts and peers encountering similar issues. If you would like to attend please register, as the number of participants will be limited.

We look forward to meeting you over breakfast!


Programme

8.30 am Welcome coffee & breakfast

9.00 am Introduction
Gill Sivyer, Partner, Global Leader International Development, PwC

9.10 am Artificial Intelligence
Christian Westermann, Partner, Leader Data & Analytics, PwC Digital Services
Manuel Capel, Senior Manager, Data & Analytics, PwC Digital Services
The Speakers will introduce the topic of artificial intelligence (AI) and the reasons why it is gaining importance in the business world. Interconnected digital systems generate valuable information from new sources such as the internet, sensors or images captured by drones. By applying artificial intelligence to this data, it can be used to drive revenues and reduce costs by identifying new market opportunities, increasing process automation and detecting anomalies.

9.30 am Equal-Salary Certification
Sue Johnson, Senior Manager, Inclusion & Diversity, PwC
Attracting the best talent continues to be a top of mind challenge for leaders in all sectors. Fostering an inclusive workplace is key to enabling an innovative work culture and high performing teams with a customer centric ethos. The speaker will outline the impact of how EQUAL-SALARY certification can support your organisations journey to a diverse and inclusive workplace.

9.50 am Questions & discussion

10.20 am End


Event details

Date and time
Tuesday, 20 June 2017
From 8.30 am to 10.20 am, including breakfast

Venue
PwC Geneva
Avenue Giuseppe-Motta 50
1202 Geneva
Map

Participation fee
The event is free of charge.
The number of participants is limited. Participants will be accepted in the order registrations are received.

Registration
Please register by clicking on the below link. Your registration will be confirmed.
Register here

Contact
Olga Alfaro
Event Coordinator
olga.alfaro@ch.pwc.com

Winning the fight for female talent: How to gain the diversity edge through inclusive recruitment

Gain the diversity edge through inclusive recruitment

Today, more and more CEOs regard talent diversity and inclusion as vital to their organisation’s ability to drive innovation and gain competitive advantage. And as businesses across the world inject greater urgency into their gender diversity efforts, we’re seeing an intensifying focus on hiring female talent. In fact, 78% of large organisations tell us they’re actively seeking to hire more women – especially into more experienced and senior level positions.

PwC’s new report, Winning the fight for female talent, explores how organisations are seeking to deliver on their gender diversity attraction goals. We also examine the impact of these approaches and – more generally – how they’re matching up to the career aspirations and diversity experiences and expectations of the modern workforce.


Download the full report here.

 

Steady progress in boosting female economic empowerment, but gender pay gap still a major issue

PwC Women in Work Index

Prize of pay parity in OECD could mean US$2 trillion increase in total female earnings

Latest PwC Women in Work Index reveals:

  • Gradual improvement in female economic empowerment in OECD
  • Nordic countries still lead the way, with Iceland, Sweden and Norway taking top 3 spots
  • Poland climbs into top 10 thanks to gains in cutting female unemployment
  • Other top 10 places held by New Zealand, Slovenia, Denmark, Luxembourg, Finland and Switzerland
  • But gender pay gap poses major challenge, with parity still decades if not centuries away
  • Potential prize of closing the gap could boost total female earnings by US$2 trillion

21st February, 2017 – Slow but steady progress continues to be made in OECD countries towards greater female economic empowerment, according to a new PwC report.

But the gender pay gap continues to be a major issue, with the average working woman in the OECD still earning 16% less than her male counterpart – despite becoming better qualified.

The latest PwC Women in Work Index, which measures levels of female economic empowerment across 33 OECD countries based on five key indicators, shows that the Nordic countries – particularly Iceland, Sweden and Norway – continue to occupy the top positions on the Index. Poland stands out for achieving the largest annual improvement, rising from 12th to 9th. This is due to a fall in female unemployment and an increase in the full-time employment rate.

PwC analysis shows that there are significant economic benefits in the long term from increasing the female employment rate to match that of Sweden; the GDP gains across the OECD could be around US$6 trillion.

pwc_infographic

When it comes to closing the gender pay gap, countries such as Poland, Luxembourg and Belgium could see the gap fully close within two decades if historical trends continue. But much slower historical progress in Germany and Spain means that their gap might not close for more than two centuries, although making this a policy priority could accelerate progress. The gains from achieving pay parity in the OECD are substantial – it could result in a potential boost in female earnings of around US$2 trillion at today’s values.

Picture1
Download the full report here.

 

Contacts:

Hans Geene
Partner
+41 58 792 9124
hans.h.geene@ch.pwc.com

Charles Donkor
Partner
+41 58 792 4554
charles.donkor@ch.pwc.com

New report: PwC’s 20th Global CEO Survey – Harnessing the power of human skills in the machine age

The talent challenge: Harnessing the power of human skills in the machine age

pwc_ceo survey_2017

With the rise of automation, we’ve reached a point where we’re questioning the role people play in the workplace. How to achieve the right mix of people and machines in the workplace is the critical talent question of our age.

Fifty-two percent of CEOs say that they’re exploring the benefits of humans and machine working together and 39% are considering the impact of Artificial Intelligence on future skills needs. This is a delicate balancing act for CEOs in every sector and region.

However, you can’t have a machine age without humans and 52% are planning to increase headcount over the next 12 months. They are focused on obtaining the skills that they need to create a world where humans and machines work alongside each other.

Different skills will be needed, roles will disappear and others will evolve. Some organisations will need fewer people, but others will need more. There will be a rebalancing of human capital as organisations adjust.

Exceptional skills and leadership will be needed, and yet 77% of CEOs say they see the availability of key skills as the biggest business threat. Todays in demand skills are exclusively human capabilities – adaptability, problem solving, creativity and leadership. Software cannot imitate passion, character or collaborative spirit. By marrying these skills with technology, innovation can thrive and organisations can succeed in competitive market places.

CEOs have an enormous challenge ahead of them; it is the role of business leaders to protect and nurture their people to show that in the technological age, humans are their priority.

Our new report – The talent challenge: Harnessing the power of human skills in the machine age – looks at the dilemmas facing CEOs and their HR teams in today’s environment and how their businesses can stay ahead.

Picture1
Download the full report here.

 

Contacts:

Hans Geene
Partner
+41 58 792 9124
hans.h.geene@ch.pwc.com

Charles Donkor
Partner
+41 58 792 4554
charles.donkor@ch.pwc.com

PwC & HR Today Survey “Future of work”

Your chance to win a prize: invitation to take part in the survey

 

To the survey

 

PwC has joined forces with HR Today to present a series of studies entitled HR Today Research. The aim is to foster dialogue with the professional HR community and encourage people to participate in the HR-specific survey. Take part and you could win a night for two in one of the five star hotels in the Victoria Jungfrau Collection.

The study results will be published in the spring of 2017 via the channels of HR Today and presented at an event.

More information can be found here.

Young Workers Index 2016

Every person is born with potential: the key is unlocking that potential. So, how can we provide opportunities that empower young people to take ownership over their own future outcomes?

You can download our new Young Workers Index report by clicking below, where we discuss how governments and businesses can reap the rewards from playing their part in making this happen. You can also explore key findings from the research and use our new interactive tool to delve deeper into the data below.

 

Download the report

The PwC diversity journey

Creating impact, achieving results

For PwC, diversity is a priority across our network of firms because we need the best available talent to create value for our clients, people and communities. We hire and nurture professionals who take a variety of approaches to problem-solving, who are willing to challenge the status quo, who think differently from one another, and who come from many different backgrounds and cultures. We do this because to solve important problems we need diverse talent.

Our global diversity journey began 12 years ago, when the PwC network of firms first began to focus on a globally consistent approach to diversity as a business imperative and enabler for delivering our international business strategy. A lot has changed in the intervening years, particularly with regard to the decision-making that drives the operationalisation of our network approach and strategy. Through this journey we have arrived at the approach and PwC D&I story that we share with you in the report ‘The PwC diversity journey’.

Capture_Diversity

Explore our full The PwC diversity journey: Creating impact, achieving results report to learn more about the PwC approach to diversity and inclusion, the progress we’ve made, and the lessons we’ve learned along the way.

To find out more, visit: pwc.com/diversityjourney

Breaking through: How insurers can harness the diversity dividend

Realising the power and potential of a changing workforce

Management wants greater diversity. Clients and employees expect it. But while progress is being made, there’s still a big gulf between management’s intentions and the reality for many people working within insurance.

In this round-up of our research and viewpoints on diversity and inclusion in the insurance industry, we outline why diversity in all its forms – from gender, generation, ethnicity, sexuality and disability to people with a broader range of skills, experiences and cultural backgrounds – can give your business an edge. We also look at how far the industry has come and how to break though the remaining barriers.

Our perspectives draw on our wide ranging work with insurance clients and support for groups campaigning for greater diversity and inclusion. We also draw on our own experience of seeking to make diversity a reality within our Organisation.

Download the full research here.