Show me the money 2.0: How the Gender Pay Gap Regulations can be good news for your business.

Two years ago I asked: What would you do if you knew without question that you were working alongside a colleague of equal or lesser competency who was earning significantly more than you? That you knew your skills and qualifications stacked up equally and your ambition and commitment to the business were also on par? That this disparity wasn’t even a secret and had already been acknowledged by management to be unfair with a verbal promise to rectify at the next round of pay rises only to be told a few weeks later that someone further up the chain had said "no". Add to this you are a new mother returning from parental leave to a company who has made a public commitment to the ‘gender agenda’, yet internally is allowing this bad practice to continue.

How loyal, motivated and inspired can we expect women to be when there are such clear cases of discrimination against them? How can we turn these bad practices into a positive?

On the 6 April 2017, The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 came into force putting in place the requirement for employers with more than 250 employees to publish their gender pay gaps and explain their reasoning in a simple statement. With just a couple of weeks left until the second round of data is recorded analysts have already commented on the "mixed picture" with only half of employers said to be improving.

Whilst this is disappointing it's no real surprise and stories of women realising their own company's failings continues to grow. The Government has said it's a journey and estimates 5 years to get it working properly and see measures working so they have a real impact on the numbers, as one senior woman leaving or being appointed can significantly affect the data. So how patient do we need to be?

The numbers are clearly important but apparently 3 in 10 reports have errors. The most common being a failure to provide a link to a written report, despite the legislation stating reports must be published on a website accessible by both employees and the public for a minimum of three years.

A significant number of reports were also signed by a person below the required management level and in some cases, reports had been signed by somebody who was not employed by the organisation at all.

Perhaps it's the weather but with International Women's Day and it's theme #BalanceforBetter not yet a fortnight past it's starting to feel like many, Just. Don't. Care.

Previously I shared that I believe businesses now have 2 very clear choices: Value talent regardless of gender or watch that talent to go elsewhere. Just this week I heard of a past client who is moving on as when replacing her number 2 she found he was earning ￡100k more than her. ￡100k MORE. It's insulting!

As a business whatever your size, if you know you are guilty of disparity regarding pay or career development, it’s time to ‘fess up and Be. The. Change.

I honestly find it galling to hear these stories and know that there are too many to tell. Resistance to doing the right thing can only last for so long and if you are dragging your heels, why is that?

If you are genuinely struggling to get your initiatives off the ground or reverse years of "bad practice" here are 3 things you can do to as a business or employee to ensure women and men are paid fairly for their skills and provide equal support to your talent.

So the regulations can be good news.

1.   Know your data and admit to your mistakes.

We all want to show our best side but sometimes you just have to come clean. When I hear businesses speak about their culture and the numbers they’ve collated around leadership progression the information presented gives a skewed, rather shinier version than the reality, and doesn't focus on the issues to address. Rather than wanting to paint the best picture ask: Where is there room for improvement and who can help me achieve this? Hold up your hands and ask for help. Internally and externally. Work with a provider who is committed to delivering results and helping you achieve your goals, and include your employees in the process.

As an employee if you suspect disparity, be bold and ask the question. In order to challenge a current situation make sure you've done your homework and present a solid business case to back you up. Be honest too. Acknowledge whether your negotiation skills need some work. Or identify if you have a limiting belief that's holding you back (we all have them). If you really are working with dinosaurs look to bring in public data to support your argument and show best practice examples your business can aspire to.

2.   Call out disparity and build a network of "equality allies” to support you.

Now you know your numbers, ask your employees to contact you if they suspect there is inequality in pay rates which is based on their gender, and not their skill set, or if you become privy to information which highlights unfair practices, and commit to taking it further. Create an environment that is open to discussion and known for taking action around this topic and educate your management to have the same approach. Build a network of allies within your business, amongst your board or within your industry who are committed to fair practice and creating gender parity. We all know unconscious bias exists but ensure your business is doing its best to move forward and make changes.

As an employee, stand up for your worth. The women I coach admit they can struggle to challenge inequality in pay, position, or day-to-day responsibilities when they have so much else on their plate. But if the reality is you are being unfairly remunerated, this needs to be addressed, sooner rather than later, and with those who are able to create change. Find the support you need to speak up and challenge the situation ensuring you have a "Plan B" already in place. If you need to seek legal advice to strengthen your position or have some coaching to give you the additional confidence to speak up, do. I guarantee it will pay you dividends*. Ultimately your business should thank you for giving them the opportunity to make corrections, but if they don’t, and your requests for action continually fall on deaf ears, move on and secure something new.

3.   Understand that equal pay is just the tip of the iceberg and be prepared to move from your previous position.

Updating policies and procedures to better address inequality is crucial - as is being prepared to take bold moves if what you have no longer serves your business. I still love the story of Max (Mills) Miller, dad of two and co-founder of ustwo, who only really understood the value of equal parental leave when he realised he’d missed out on it. As a result his business made a commitment to give new parents the same paid parental leave – 6 months each.

As an employee rest assured that equal pay will never come about if we don’t address the way we parent and share child care (it's not the only reason we have a gap but it certainly plays its part). Support your company to build a culture that encourages equality. Whilst there will always be the argument that women are "natural nurturers" and plenty of women don't want to share their parental leave, ask yourself if you could be more progressive in your thinking and how you can make a change? And if the men you know aren't keen to share or object to a woman being paid equally, ask them to explain, why?

The new gender pay gap regulations are undoubtedly causing business some work but they also present leaders and our workplace culture with an incredible opportunity. Rather than just paying lip service to gender equality, diversity and inclusion, businesses have a new platform to show how well they value their women and talent overall. No-one is expecting perfection but transparency, honesty and a willingness to improve would go a long way.