Achieving gender equality in the workplace is one of the greatest opportunities available to business today, and there is plenty that companies can do to make it happen.
In Mind the gap – a new guide exclusively for members – the CBI helps firms to learn from each other and practically tackle their gender pay gaps. The guide also identifies the true size of the prize to the UK economy: bridging the gender pay gap could boost UK GDP by up to £150 billion by 2025, and could help get up to 840,000 more women into work, according to research by McKinsey.
Though there is no one size fits all approach to tackling the gender pay gap, Mind the gap recommends four actions that will help companies to make significant progress:
- Use data to uncover and tackle barriers that women face in the workplace
- Improve attraction, recruitment and progression of women
- Ensure leaders champion diversity and make it a shared priority across the business
- Communicate the actions that are taken to close the gap in an open and honest way
Building on case studies from firms across different industries and of different sizes, the guide explores how firms can go about taking action across these four areas - alongside how to create a true culture of gender equality and make significant and lasting change.
CBI members can download their copy of the guide here
Closing the gender pay gap and achieving gender equality is of particular importance to UK businesses as people are at the heart of every company, and diverse thinking is a competitive advantage and one of the main drivers of UK productivity. The CBI is committed to continue to help companies to take action until the job is done.— Dame Carolyn Fairbairn, Director-General, CBI