A new campaign has been launched by a group of UK’s 100 most successful businesswomen. The campaign focuses on closing the gender pay gap. The move followed a gender bias case which involved BNP Paribas bank.
Britain’s most influential names, GSK boss Emma Walmsley, potential next governor of Bank of England, Dame Minouche Shafik, are supporting the campaign, while the cause has been spearheaded by chief of Royal Mail, Dame Moya Greene.
“Pay discrimination is more widespread than we had thought, even though we have had laws on the books for 40 years,” Greene spoke in the wake of the situation. “We want to keep this issue alive.
“Most companies have very good policies, but in many cases they are not properly enacted, nor are they always leading to good outcomes.”
Furthermore, #MeTooPay had also initiated a website, in addition to a social media campaign which targets the gender pay gap.
The incidence of Stacey Macken of BNP Paribas, the firm’s prime brokerage division employee, brought the fact to light that her salary was 25% less than that of her male colleague. In addition, her first-year bonus payment was less than half of his, although both had equal grades of work performance. Furthermore, reports allege, after three years of joining, Macken’s bonus in comparison to that of her male peer was 85%.
“It is part of a series of high-profile discriminatory cases we have seen over the past 12 to 18 months,” spoke Dame Moya, Royal Mail boss from 2010 to 2018. Moya is currently a non-executive director at airline Easyjet.
“Pay discrimination is fundamentally a management issue, they decide who is going to be paid what,” she added.
The campaign website draws attention to incidence of pay discrimination, record details of significant court cases and also provides a forum “to share good and bad policies in action”.
Furthermore, the cases are attended by workplace professionals, negotiation experts, etc who in return help women to gain better salary delas.