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Home>Blog>MBA Blog>Gender Pay Gap Initiative Falls Flat: MBA News
Attention has been drawn to the underwhelming results of a UK initiative designed to curb the country’s gender pay gap.
‘Think, Act, Report’ was launched by the government three years ago as a way of getting companies to publish salary details by employee gender, thereby making it easier for companies to assess the extent of their gender pay gap and act upon it.
From the companies’ point of view, it was hoped that being seen as an advocate of gender equality in the workplace would provide an incentive for them to sign up to the voluntary scheme.
Paucity of gender pay gap data published
However, although more than 200 companies in the UK duly signed up to the Think, Act, Report’s principles, The Guardian has revealed that only four firms have published details of their gender pay gap to date.
Participants include the UK offices or HQ of a number of established MBA employers, such as Accenture, KPMG, Tata Consultancy Services and HSBC as well as the University of Manchester – home to Manchester Business School. Another signee, RBS, has produced a case study about an in-company initiative to support gender equality in the workplace.
But, transparency over a company’s performance regarding its gender pay gap was Think, Act, Report’s guiding force as the UK’s home secretary, Theresa May, expressed at its launch: “The aim of Think, Act, Report is to improve transparency on pay and wider workplace equality issues to help drive change, including closing down the gender pay gap,” she said.
Gender equality in the workplace has a long way to go
When it comes to salaries, it seems there’s still a long way to go bring about complete gender equality in the workplace. Last year, women were paid almost 20% less than men according to median salary figures from the Office for National Statistics. The Labour Party - the government’s principal opposition in the UK - says that the current rate of progress would only yield financial equality some 60 years from now.
Defenders of the initiative argue that getting companies to commit to its principals is progress in itself and that it signals recognition of the need to be proactive in encouraging gender equality in the workplace:
“For many companies – especially those in traditionally male-dominated sectors – signing up is a positive first step. We know that at least four choose to publish their gender pay gap, and at least two go further to break it down by grade,” a government spokesperson said.
This year’s QS TopMBA.com Applicant Surveyshows that for the first time, there are more female prospective MBA applicants in the US & Canada than male. However, with only 24 Fortune 500 companies led by female CEOs it remains to be seen how long it will take for this to trickle upwards.
Tim is a writer with a background in consumer journalism and charity communications. He trained as a journalist in the UK and holds degrees in history (BA) and Latin American studies (MA).
Gender Pay Gap Initiative Falls Flat: MBA News
By Tim Dhoul
Updated UpdatedAttention has been drawn to the underwhelming results of a UK initiative designed to curb the country’s gender pay gap.
‘Think, Act, Report’ was launched by the government three years ago as a way of getting companies to publish salary details by employee gender, thereby making it easier for companies to assess the extent of their gender pay gap and act upon it.
From the companies’ point of view, it was hoped that being seen as an advocate of gender equality in the workplace would provide an incentive for them to sign up to the voluntary scheme.
Paucity of gender pay gap data published
However, although more than 200 companies in the UK duly signed up to the Think, Act, Report’s principles, The Guardian has revealed that only four firms have published details of their gender pay gap to date.
Participants include the UK offices or HQ of a number of established MBA employers, such as Accenture, KPMG, Tata Consultancy Services and HSBC as well as the University of Manchester – home to Manchester Business School. Another signee, RBS, has produced a case study about an in-company initiative to support gender equality in the workplace.
But, transparency over a company’s performance regarding its gender pay gap was Think, Act, Report’s guiding force as the UK’s home secretary, Theresa May, expressed at its launch: “The aim of Think, Act, Report is to improve transparency on pay and wider workplace equality issues to help drive change, including closing down the gender pay gap,” she said.
Gender equality in the workplace has a long way to go
When it comes to salaries, it seems there’s still a long way to go bring about complete gender equality in the workplace. Last year, women were paid almost 20% less than men according to median salary figures from the Office for National Statistics. The Labour Party - the government’s principal opposition in the UK - says that the current rate of progress would only yield financial equality some 60 years from now.
Defenders of the initiative argue that getting companies to commit to its principals is progress in itself and that it signals recognition of the need to be proactive in encouraging gender equality in the workplace:
“For many companies – especially those in traditionally male-dominated sectors – signing up is a positive first step. We know that at least four choose to publish their gender pay gap, and at least two go further to break it down by grade,” a government spokesperson said.
This year’s QS TopMBA.com Applicant Surveyshows that for the first time, there are more female prospective MBA applicants in the US & Canada than male. However, with only 24 Fortune 500 companies led by female CEOs it remains to be seen how long it will take for this to trickle upwards.
You can see the top business schools by the proportion of female students here and learn about MBA scholarships for women here.
This article was originally published in . It was last updated in
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Tim is a writer with a background in consumer journalism and charity communications. He trained as a journalist in the UK and holds degrees in history (BA) and Latin American studies (MA).
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