Illustration with symbol of love and different genders symbols

A data driven solution to a serious issue

The gender pay gap could not be of greater importance at this time. With the matter heavily reported on, the possibility of social damage is amplified and the potential costs are accelerated. However, the effect of the gender pay gap is not only seen on a company level, but could have a significant impact on the UK economy as a whole.
 
Research by McKinsey in 2016 found that narrowing the gender pay gap could potentially result in adding £150 billion to to UK GDP forecasts for as soon as 2025. This is equivalent to increasing GDP growth by 0.7% per year for the next 10 years. If this could be achieved through bridging the gender pay gap, it is in the interest of everyone to address this issue.  (McKinsey 2016, The power of Parity: Advancing Women's Equality in the United Kingdom)
 

The challenge

You can see from our Tableau visualisation of gender pay gap data below that the majority of UK industries and employers have a gender pay gap of varying levels, and disparities in progression rates by gender.  There are a range of potential impacts to an unaddressed pay gap that we are working with customers to help address:
  • Burden of regulatory reporting and future compliance
  • Increased churn and talent retention issues due to imbalances in progression
  • Risk of legal costs and reputational damage
  • Perception in employment market
  • Company culture and transparency 

How to address this challenge using data

We really believe that using data to analyse and tackle these issues empirically is the way to begin solving some of the problems.  We're working with a range of organisations to investigate the underlying patterns to understand how and why gender imbalances are developing, and helping identify how they can be fixed.  We're working with our customers and technology partners to build applications including:

  • Using Alteryx to integrate, blend and clean data from a wide variety of sources - not just a snapshot of current compensation but historical data including career progression, line management changes, absence and leave, department and many more 
  • Visualising patterns and trends in Tableau to give HR leaders and accountable executives a rapid and clear view on what is happening and how it is changing
  • Working with Squirro to analyse semi-structured and text information from appraisals, performance reviews, grievances and other interactions to give transparency to decisions around progression and compensation
  • Building advanced analytical models to proactively alert organisations when there are risks

These applications provide a comprehensive and clear view of how your organisation is managing performance, progression, compensation and recognition, enabling a far more effective talent and people management culture.

How can CDO Partners help?

Using the knowledge we have developed in this area alongside our proven frameworks, approaches and technologies CDO Partners can help by engaging with you to start making your data work to close the gender pay gap by: 

  • Producing a Making Data Work Assessment (you can download your own framework here) to understand the current landscape and 
  • Undertaking a rapid proof of value to explore and discover where the key issues lie
  • Providing agile delivery of analytical applications to deliver value quickly and repeatably
  • Supporting and guiding the evolution of applications with our flexible models

If you'd be interested to talk to us about how we can help please get in touch using the form below.