What would it mean to pay women fairly for the value of their work?
This is a question the National Business Initiative (NBI) has set out to answer together with the Southern Centre for Inequality Studies (SCIS) at the University of Witwatersrand and with the support of the South African Rewards Association (SARA). The gender pay gap is a symptom of structural societal and economic inequity that not only detrimentally impacts women, but affects whole economies.
Closing the gender pay gap is about more than just equal pay for equal work. Fundamentally, it is about addressing gender inequality, which has far-reaching implications for building a sustainable and inclusive society. Gender pay parity is recognised as a crucial step in this regard and when addressed, has the potential to fundamentally transform both economies and societies.
In partnership with the SCIS and SARA, the NBI conducted the Gender Pay Gap Pilot to develop a methodology, guided by economic models which leverage available company data, to measure the pay gap within South African companies. The next step is to test methodologies for the calculation of gender pay disparities within companies. This involves developing a tool over the next few months, which will allow companies to securely submit their datasets and measure their income discrepancies.
The results of the pilot process included a standardised methodology that can be applied across sectors. The solutions proposed for correcting the wage gap are available in our latest report, which will be launched on 12 March 2021. Please join us online as we launch the Gender Pay Gap Report and discuss important findings from the pilot study.
Click here to RSVP.