Human Resources Leadership

Close Gender Gap to Retain Top Talent

There are some things in business that entrepreneurs can change. The changes in the business world for the better has all been led by those forward thinking entrepreneurs who led the way without bias. Talking about women in business, well it was possible for women to break through the barriers and establish herself as an entrepreneur because some leading entrepreneurs of the time saw through the talents that a woman entrepreneur can bring to business. As an entrepreneur, you have immense power to influence, change and evolve the marketplace with your thoughts. All you need to do is have a little sensitivity to issues and be willing to take a stand.

Gender pay inequality has always played a negative role in the business world. Interestingly, although the pay gap is completely illogical, no one seem to take a stand against it. For those who do take a stand they are not taken seriously. This leads to many women leaving workplaces that do not do justice to their talent and hardwork. A big corporation might think that a few women leaving is not a big deal but it is! There is an increasingly high number of women who understand the problem of existing gender pay gaps, can see through it and decide to take charge of her finances. The fact that there are new companies that are not based on gender pay gaps make the transition easier for women. The quality of people working in an organisation make up the culture. It is important that organisations work to retain those women employees who feel that they are well off in a company that do not have gender pay inequality.
Change is brought about by a change in culture. How can you as an entrepreneur bring the change that looks down at pay gap and welcomes equality?
Here is how.

1. Fight your Biases:
Look at the biases that form your mind-set as a male entrepreneur. Look at the moments when you had the chance to make a difference but did not because your pay is not getting affected anyway.
As an entrepreneur it is important that you set the example of welcoming women and pay equality. This would help you to open your resources to that other half of extremely talented population who would otherwise not choose to be with your organisation if you had a completely gender biased culture. The best part about being a person in position is that you can transform your work culture and set the future of the business world in motion. This is immense power to revolutionise the work place as we know it. Your company would not only be recognised as a forward thinking organisation but will also bring in a lot of hidden talents to your work force.

2. Make a Platform for Open Discussions:
It is possible that you go out to set an example but half of your employees do not understand the reason behind your behaviour. Entrepreneurs who want to change the company culture must make sure that his vision is understood and shared.
Many men don’t come being sensitive to gender pay gap. Many dismiss it as something that is the natural thing to do because it has been there since so long. Someone needs to explain to these people how organisations are being biased against the top talents in the industry. The future might see a lack of talent in an otherwise potential company because of this pay gap.
Entrepreneurs must make their organisation a platform where people take time out to assess these issues. Discussing it, getting to the root for it and finding solutions in sync with the company rules would help people in an organisation the basic of pay gap, why it arises and how they can do away with it.

3. Recognize your Women Employee’s Contribution to Business:
Many men do not take the repercussions of pay gap seriously because they feel they have nothing to lose. Employees can be replaced. Recognising women employees’ contribution to an organisation will reveal that they are actually a powerhouse of talent replacing whom can never even be thought of.
To bring this thinking to employees at large and employees who are not eager about creating a culture that has no pay gap, you must recognise your women employee’s contribution. Make sure that people understand the importance of her work, her value and why she deserves to be paid an equal amount with her male counterparts. This would surely make the transition to a great work culture easy.

The business world at large understand the gender pay gap issue and how it affects the women working population. There are many companies that recognises the fact that if they do not make their organisation free from these pay gaps, they will have to compromise with a lot of talent that refuses to stay. Women naturally prefer the new age companies that do not consider these stereotypical pay gaps. The global workforce has a large number of women backing organisations. There is no dearth of a lot of women leading an organisation either. The business world is shifting towards a future that do not has gender pay gaps. More and more women are choosing to join organisations that empower them. As an entrepreneur it is important that you transform your organisation into one of those forward thinking place. You cannot bring that change overnight but as a leader you can show the way to your employees’ one person at a time, one evolution at a time. Women are an integral part of business. They bring a different perspective to everything that makes an organisation move towards the better. It is wise for entrepreneurs to understand the value of women employees in business and try to retain them. You have the power to transform your business. All you need is a willingness to address the issues and go forward with the solution. It will make your company have a great working culture.

About the author

SPI Group

An integrated platform created to serve entrepreneurs and service providers. SPI engages with over 100,000 Entrepreneurs & Senior decision makers through a unique combination of cutting edge business magazines, high profile B2B summits and conferences, strategic alliances with Govt, business associations and government bodies. SPI also leverages the power of digital marketing and social media.

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