Gender pay gap reporting is a tool to attract the best employees to our businesses - CII
The Chartered Insurance Institute statement on gender pay gap reporting.
The public judges businesses by our actions, not by what we say. That’s why the data on the gender pay gap is so important – these are solid facts about who we are and how we work. They will contribute to the public’s perception of us, and critically the level of trust they have in us to do the right thing.
As the deadline to disclose gender pay gap figures looms, we at the Chartered Insurance Institute have viewed it as our responsibility to lead our sector by example in publishing our own data five months before the deadline - despite having a headcount lower than the threshold required by the rules – and we’ve challenged all businesses within our sector to publish their data openly. Furthermore, we are determined to prove to the public that we are serious in this endeavour by sharing analysis of the insurance market’s overall gender pay gap to highlight the areas of success and areas with the greatest need for improvement, while also developing and sharing best practice of what works in practically reducing the gap.
We are clear that rather than dwelling on the data alone or shy from the results, this should be an opportunity for the insurance sector to focus on action to narrow the gap, and view the requirement as a tool to attract the best employees to our businesses and to understand how to get the most out of our workforce. We need to urgently address this issue if we are to attract the best talent and remain competitive in the marketplace in the years to come.
The CII’s call to action can be found in the ‘Mind the gap’ briefing paper
