In August 2015, Deloitte voluntarily released its pay data prior to this becoming a compulsory requirement for large employers under the government’s gender pay gap reporting plans.
Deloitte wanted to publish the data before it became compulsory to demonstrate to its 15,000 UK staff that it is fully committed to gender equality.
The data showed that the financial services firm has a gender pay gap of 18%.
Emma Codd, managing partner for talent at Deloitte, says: “Attaching a number to something gives it leverage and shows what you’re actually aiming to improve or change.”
Men hold 17% of Deloitte’s highest-ranking and paying roles, which is why the organisation is working on a culture shift to make it more inclusive and ensure each employee is judged solely on their value to the business.
Codd believes that women are not typically attracted to the financial services industry, which makes it more difficult for an organisation such as Deloitte to recruit and retain female talent. “Finance isn’t a particularly female-dominated sector, so, as well as a returners’ programme for women who have not been in the workplace for five or so years, we also have a maternity returners’ programme, which is based on guiding and coaching new mothers back into the workplace,” she says.
However, Codd recognises that an inclusive culture shift is not something that can be achieved quickly. She says: “This is not something you can change overnight; it a long-term initiative so it needs to be strongly driven.”
Deloitte’s initiatives to drive culture change and bridge its gender pay gap all come down to evolving its environment for the long term. Strategies that cost very little can often be tremendously effective, such as boosting employees’ awareness of female role models within the organisation.