PwC says its gender pay action plan has helped bring its gender pay gap down, and it plans to keep working on it through a range of initiatives.
Last week, PwC Ireland published its second annual gender pay gap report, revealing that the company’s gender pay gap has narrowed to 4.7pc – a drop from last year’s figure of 5.7pc. It also reported its gender bonus gap has dropped 3pc since last year, now landing at just under 9pc.
PwC has been voluntarily making its pay gap findings public knowledge, citing its leaders’ commitment to pay parity and addressing any issues that show up in the report. The company has announced plans to continue its yearly pay gap publications going forward.
While reporting gender pay gap data became compulsory in the UK in 2018 for companies with more than 250 staff, similar legislation has yet to be introduced in Ireland.
In its 2020 report, PwC Ireland found that the most significant factor contributing to its gender pay gap is that more men are in senior roles at the company.
However, elements that helped the firm narrow the gap in the last year included a slight shift in the make-up of its headcount, with a 2pc increase in representation of women at the most senior level, as well as the implementation of its gender pay action plan.
That plan requires management at PwC to adhere to “a more robust application of a gender pay lens throughout the performance and salary review cycle” of employees.
It will also see the company place greater focus on learning and development for an “inclusive mix of talent”, as well as on providing equal opportunities for career progression and reviewing its methods of appraisal and reward.
‘Progressing well’ against gender pay gap
Following the report’s publication, PwC Ireland managing partner Feargal O’Rourke said that diversity and inclusion are “core” aspects of the culture at PwC.
“At PwC we believe in being transparent about our gender pay gap and the journey we are on,” he said.
“It’s good to report that we are progressing well against our gender pay gap action plan, resulting in a reduction in our pay and bonus gaps from last year.
“Even more important is the continuing conversation we’re having across the firm about delivery and the practical actions we can take.”
Speaking about next steps, PwC Ireland people partner Emma Scott highlighted the company’s plans to “further progress its gender pay gap action plan, with specific focus on improving the representation of females at the very senior levels of the firm”.
“Continuing to apply a ‘gender lens’ to all recruitment activities will also be critical,” she explained. “While understanding the numbers is key for us, it’s also about holding ourselves accountable to our plan.
“Ultimately, it’s all about creating an inclusive culture while engaging proactively with our people.”