Despite recent progress, it would take 82 years to fully close the gender pay gap in the US
In UK, for every £1 a full-time male employee earned, a full-time female worker earned 91.7 pence.
In Denmark, the figures have been relatively lower compared to some other countries, but men still earned 4.7 % more than women.
Numerous countries have passed legislation aimed at promoting gender equality in the workplace.
Research indicates that the Gender Pay Gap can be reduced when companies are required to disclose this gap.
However, merely reporting the unadjusted pay gap falls short of offering the necessary insights to drive meaningful change.
The Unadjusted Gender Pay Gap often reflects disparities arising from the uneven distribution of men and women in higher-paying roles, as well as variations in other factors contributing to higher salaries.
We strongly recommend reporting the Adjusted Gender Pay Gap as it provides a more detailed and context-specific view, providing a strong evidence-based platform for shaping targeted managerial strategies and driving lasting change.
A more accurate gauge of "equal pay for equal work" is the Adjusted Gender Pay Gap. This metric compares men and women who share similar characteristics in terms of various justifiable work-related factors that impact compensation, such as job complexity, length of service, organizational roles, job performance, and more.
Always ensure that your data spans at least three years and covers all functional areas and geographical regions.
Look for STATISTICAL significance:
It helps confirm whether the observed gap is not just due to random chance or variability in the data.
It provides a level of confidence that the gap you're observing is consistent and replicable, which is crucial for making informed decisions and taking action.
It can help prioritize efforts by identifying where the gap is most pronounced and requires the most attention.
WHAT OUR CUSTOMERS SAY
Gender pay equity was a priority for us, but we needed a partner who could help us to build our own methodology for calculating gender pay gap that we could use in the future. NHCA not only understood our unique challenges but also was both flexible and accommodating.
D&I executive, a large multinational in pharmaceutical industry
NHCA applies a rigorous, research-based approach to every aspect of their work. It's clear that their recommendations are grounded in solid data and thorough analysis.
Head of Rewards, a biosolution conglomerate
We needed partners who could make sense of the data and reveal the story it was telling. NHCA exceeded our expectations with their research insights and statistical expertise.
Head of People Analytics, a Nordic financial institution.
If you have any questions or concerns, we're always ready to help!