Why The Gender Pay Gap In Your Tech Firm Turns Women Off
Because the pay gap is real. And it affects employees, attitudes and competitiveness.
3 min read
Your company undervalues women’s contribution
Some people think that the gender pay gap is a myth, which is based on fiddling statistics either for political gain, or to ruthlessly promote ‘the feminist agenda’. They think that if there is a gap, it’s because women simply don’t ask for a raise in salary when they deserve one. According to research, however, female top tier managers are paid an average of $100,000 a year less than their male counterparts for doing the same work.
Endless research turns up results that women performing the same roles as men are not equally compensated. This fact will put off prospective female employees who will see your company as yet another organisation that gives men preferential treatment.
It’s harder for women to get ahead
Studies also show that women’s performance is judged more harshly than men’s in many industries, even by other women. Naturally, that will make it harder for women to advance their careers. Even if a woman is the highest performer in her company, she is still likely to be overlooked for promotion in favour of less talented male co-workers.
No one wants to spend their working life swimming upstream while less talented, less hard working peers outstrip them. If you have a gender pay gap in your tech firm, it’s an easy assumption to make that these problems may be rife in your organisation.
It Implies a possibility of other discriminatory behaviours
If you have a gender pay gap, it’s a bad sign in general. It also suggests your company has no interest in addressing other inequalities and discriminatory behaviour in the workplace. It’s harder for women to get the support they need to advance because studies also show that unconscious gender bias means we favour those who are like us. If management is predominantly male – senior management is 65% male and 35% female in the UK – then men are going to be getting ahead more often.
With websites like Glassdoor becoming increasingly popular, transparency is key in attracting and retaining the best talent.It doesn’t matter if your company isn’t perfect. What’s important is showing a willingness to engage with the issues and starting to address the imbalance.
Pay transparency will see you lose out to competitors
The phrase ‘it’s a man’s world’ springs to mind, but the tide is changing – very slowly. And when it does, if you aren’t already addressing your gender pay gap, women will be flocking to your competitors who have. Gender pay gap legislation came into force in April 2017, and it requires all private and voluntary-sector employers with 250 or more employees to publish prescribed information about their gender pay gap results.
If that prospect sends a shiver down your spine and you’d like some help preparing your company, book in for your free call to discuss addressing your pay gap issues.
Michelle Gyimah is the Director of Equality Pays, a Gender Equality Consultancy dedicated to helping technology firms create inclusive business cultures. Her firm has worked with technology firms and the financial services industry. Michelle is a regular contributor to numerous business magazines, international conferences and lives in Manchester, UK.