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Are we any closer to parity in gender pay scales

Are we any closer to parity in gender pay scales
April 06
08:28 2020

New Delhi, April 6 : As part of its commitment to diversity and inclusion, gender equality and corporate transparency, global retail major RB has recently issued reports on gender pay in its top five markets around the globe, including India in the companys first global Gender Pay Report.

Gender parity for women has an economic as well as social impact in a country like India. Achieving gender equality in India would have a larger economic impact there than in any other region in the world-$700 billion of added GDP in 2025-but comprehensive change is needed, said a report by McKinsey in November 2015.

Ranjay Radhakrishnan, Chief Human Resources Officer, commented: “In 2019, we promised to go beyond what was legally required for gender pay reporting. Today, I’m proud to say that we have delivered on that commitment, issuing our first global Gender Pay Report covering our five largest markets and representing nearly 50 percent of our global employees. It is clear that RB needs to better reflect our consumers and the profile of the markets we operate in. We recognise there is more to do to achieve our ambition of increasing the number of women in senior management positions to 40 percent by 2022.”

As one of the first FTSE 100 companies to go beyond the UK’s gender pay disclosure requirements, RB’s 2019 report covers the US, the UK, China, India and Mexico, which represents nearly 50percent of RB’s global employees. RB’s global ambition is to double the numbers of women in senior management positions to 40 percent by 2022, from a 2016 baseline of 20 percent. In 2019, 26 percent of RB’s senior management positions globally were held by women.

Other than the traditional corporate houses, the United Nations has its corporate gender equality evaluations in the UN system that aims to inform the implementation of the Sustainable Development Goals and Quadrennial Comprehensive Policy Review by providing evidence on what works and what does not work in mainstreaming gender equality in UN entities.

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Fayim Md

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