Does your business have gender pay gaps?

Whatever your philosophical or ideological position on gender pay gaps may be, if that gap exists in your business you are exposed to a measurable business risk.

The recent ELMO employee sentiment index lays it out quite starkly, particularly in terms of the age demographic in your team.

Here’s a quick summary of how your employees are likely to respond if they believe there’s a significant gender pay gap in your business:

“A third of employees in NZ say they would look for another job with close to half of workers in Gen Z taking this approach (45%, cf. Millennials 33%, Gen X 31%, Baby Boomers 20%).”

So, “Gen Z are more than twice as likely to look for another job compared with Baby Boomers.” And women are far more likely than men to take action – 93% vs 65%.

From early this year, gender pay differences are going to be much more publicly visible.

What do you need to do in your business to make sure you limit the risk of losing good people?

And if that’s in your “too-hard basket”, reach out and let’s chat about how we can help.