Daily decisions open windows of opportunity
Driving gender equity is a big goal that research shows requires CEO commitment and engagement to transform platitudes into action. But it’s also a very frontline endeavor with thousands of opportunities every year to advance gender equity through daily decisions you make around hiring, pay, performance, potential and promotion.
“At least once every year, almost all companies look at every employee and make decisions about how well they are performing, what their potential is with the organization, and what their pay should be,” explains Katica Roy, CEO & Founder of Pipeline, a technology company that enables organizations to increase financial performance by closing the gender equity gap.
Although every organization needs an overall strategy to drive gender equity from the top-down, the decisions you make on a regular basis can move things in the right direction. “If you’re a company with 10,000 employees, the decision points around their compensation, performance and advancement alone give you 30,000 opportunities every year to move your company further toward gender equity,” Roy asserts.
Opportunity for All
Gender equity helps create more productive and more profitable workplaces for everyone. Research conducted by Pipeline with 4,000 companies across 29 countries found that for every 10% increase in gender equity (across a broad number of dimensions such as representation and pay) companies can anticipate a 1-2% increase in revenue.
“From an economic perspective, it’s not a zero-sum game,” Roy explains. “When we improve a woman’s earning potential, we increase how much she can pay into retirement and social security benefits. We impact her ability to pay down the 67% of student loans held by women. We impact the 40% of U.S. households with children where a woman is the primary or sole breadwinner. We impact the 48% of working fathers who want to stay home with their kids. And we drive strong financials for our organizations.”
Some of the challenge (and opportunity) surrounding gender equity is that the factors that drive it — hiring, pay, performance, potential and promotion — are in constant flux and require rigor as team members enter, advance or leave. Good data helps illuminate the path to gender equity at both the company level and on the frontlines where daily decisions are made.
Every time you apply a gender equity lens to a new hire, salary negotiation, performance review, or promotion, you have an opportunity to accelerate gender equity within your own department and throughout the organization.