"We found that companies’ overall wage bills were lower, largely due to the slower growth of men’s wages."
Surely one of the most profound statements regarding Gender Pay Gaps, with empirical evidence to reinforce it. The findings of this report are an essential read for all firms and businesses preparing their second round of Gender Pay Gap reports. It may not be in 2019 that we see the end of the debate over whether partners should be included or excluded from the findings, but increasingly, talent should be the mainstay of these debates, not gender.
According to the Managing Partners' Forum Leadership Survey (summer 2018), talent attraction and retention is the leading concern for professional services leaders. However, gender pay gap deficits will continue to serve as a deciding factor for individuals, and with empirical evidence that reinforces the benefits of redressing the balance, the potential win-win is within reach, and will address a number of firms' burning issues around talent.
Over the past decade, the possible solution of government-mandated reporting of gender pay discrepancies has been a subject of debate. Those arguing for this legislation believe that it will help to address this persistent gender wage gap. Opponents of regulation insist that not only is that unlikely; it will also increase the administrative burden of firms and decrease their profits.