In this podcast Chris invites on guest Aisling Teillard, Chief Customer Officer at beqom. Beqom is a company that specialises in compensation management software. Their platform is designed to help organisations manage and streamline their employee compensation, including salary, bonuses, incentives, and other benefits.
We invited Aisling on to discuss a recent report they wrote called “Levelling the Paying Field”. The report highlights the evolving nature of workplace dynamics, influenced by factors like the pandemic and rising living costs. One key conclusion drawn from the report is the growing demand for greater pay transparency among employees.
79% of employees desire increased internal pay transparency. In this podcast we discuss how the desire for pay transparency is not only beneficial for employees but also for employers. Businesses can experience enhanced employee satisfaction, better job retention rates, and a more positive workplace environment by addressing this issue.
What are the challenges associated with gender pay gaps?
Despite ongoing efforts, issues around gender pay inequality persist, often due to systemic factors and societal norms. The data shows that women are more likely to be cautious about salary negotiations and more hesitant to ask for raises compared to men. Additionally, women may be disproportionately impacted by maternity leave and family responsibilities, further influencing their career trajectories and earnings. Making headlines recently was the forced return to office as hybrid working has initially opened work to those who had responsibilities at home.
While macro-level policies and strategies are significant, the everyday decisions made by managers play a pivotal role in creating a more equitable workplace. Managers’ decisions regarding salary reviews, performance evaluations, and feedback can contribute to or mitigate gender pay disparities.
Aisling explains how creating a culture of pay transparency is not only a social imperative but also a strategic move that can lead to improved employee satisfaction, retention, and overall organisational success. Listen now to learn how you can begin to address your organisation’s gender pay gap.
