While there is no ‘silver bullet’ to eliminate unexplained gender pay differences, the diligent application of a range of sound remuneration practices (to both genders) can collectively go a long way towards yielding fairer, more effective pay outcomes, which are likely to reduce the gender gap over time.
To examine this notion more closely, this white paper considers each of 4 discrete pay decision or policy points which have been found to contribute to gender pay inequity:
- Annual salary reviews
- Bonus incentive allocations; and
- Pay policy for those on extended (particularly parental) leave.