Strategic Pay partners with MindTheGap in push for greater pay gap transparency
Leading remuneration specialists, Strategic Pay, have welcomed the launch of MindTheGap – a new initiative which calls on New Zealand’s largest organisations to adopt voluntary pay gap reporting, and drive greater action to address pay disparity.
Announced on the 49th anniversary of the introduction of the Equal Pay Act, the initiative seeks to address the pay gap which persists in New Zealand for Māori, for Pacific peoples, and other ethnicities, as well as for disability communities, and based on gender.
Having stepped on board as MindTheGap’s official reporting partner, Strategic Pay will support opted-in businesses with the design and implementation of internal reporting measures.
In addition, it will manage MindTheGap’s public registry (set to launch in March 2022) of these organisations and their pay gap metrics – a first of its kind in Aotearoa New Zealand.
Strategic Pay Managing Director, Cathy Hendry, says the launch of MindTheGap marks an important step towards greater transparency in the conversation around pay disparity in New Zealand, and stands to have significant benefits for both businesses and their employees.
“If we’re ever going to take appropriate action on this issue, we need a full and complete picture of how it’s playing out inside Kiwi businesses. For example, our research already tells us that New Zealand’s true gender pay gap is far greater than the official figures reported on by the Government. By opting into these reporting measures, participating businesses will be helping us to build a more accurate picture of the true levels of pay disparity at play across all communities.
“Not only that, these organisations will also be setting the standard in terms of what it looks like to meaningfully engage with and commit to take action on the issue of pay disparity in Aotearoa. Formal reporting on pay gaps is not yet a mandatory requirement here, as it is for large organisations in markets such as the UK and Australia. While it’s standard practice within the public sector, there are currently only a handful of private sector organisations that have adopted it proactively.
“With pay equality and social responsibility becoming an increasingly important issue for employees, this is a chance for organisations to distinguish themselves – building trust and pride among existing employees and becoming a preferred employer among prospective employees. For the countless industries that have struggled with finding and recruiting top talent in recent months, as a result of ongoing border closures for example, this is a great opportunity,” says Hendry.
MindTheGap has been brought to life with the support of a number of professional associations and industry bodies, including BusinessNZ.
For more information on Strategic Pay, or to download the latest Pay Equity analysis, check out www.strategicpay.co.nz/mind-the-gap
For more information about MindTheGap, check out www.mindthegap.nz
