Reducing Gender Pay Gap Could Add Up To £150bn To UK Economy
18 October 2016
New research published by the Fawcett Society has found that reducing the UK's gender pay gap could add up to £150bn to the economy and see over 800,000 women return to work.
enei chief executive Denise Keating told People Management:
"Not only is it an employer’s responsibility to close the gender pay gap and improve gender inequality in the workplace, but it is also in their interest to do so, as research has repeatedly shown that diverse teams lead to greater innovation and impact positively on the organisation’s bottom line.
“Alongside the more well-known initiatives, such as increasing the number of women on boards and increasing female participation in STEM, a huge problem in the UK is unequal caring responsibilities, with women as primary caregivers both to the young and the elderly.
“Employers have been reluctant to provide shared parental leave at a pay rate that matches the enhanced pay that many would give for maternity leave, reinforcing the requirement for women to be primary caregivers for children, which in turn affects their careers.”