The financial giant Prudential has said it would extend its unconscious bias training from senior managers to all of its employees, after revealing that female staff earned salaries 29.7 per cent lower on average than men, with bonuses 75.6 per cent lower.
The British insurer was the latest in a string of employers in the financial sector to reveal a large gap between what men and women were paid.
Under government rules introduced last year, British companies and public sector bodies with more than 250 employees must publish data on the gender pay gap by April 4. The national median pay gap is 18.4 per cent and the mean is 17.4 per cent. At Prudential the median pay gap is 22.9 per cent.
Like other companies in the industry, Prudential said that its pay gap reflected the fact that it employed more men in senior roles. Tim Rolfe, Head of Human Resources, said: “The solution is not to change pay scales but to take steps to ensure that we attract applicants from all backgrounds, create opportunities for all our employees to progress and challenge systems, processes and mindsets to ensure that they do not disadvantage women.”
Last year 188 high-ranking managers underwent special training to help them to identify and stamp out unconscious bias that may hold back women’s careers. One senior figure at Prudential said that the workshop was “hugely revealing for me personally and I am committed to a change in behaviour”. The training will become a requirement for employees at all levels.
A spokesman said these steps were already paying off and that more than half of the recruits to its graduate trainee schemes were women. For its investment graduate scheme, 75 per cent of the 2018 intake were women, compared with 17 per cent four years ago.
The challenge for all organisations - both big and small - is not only to empower workers from all ethnicities, genders or ages within the workplace but also to ensure that those whose responsibility it is to recruit are not only aware of their own biases, but can effectively remove these during the entire recruitment process.
About Engage in Learning
What we do
Engage in Learning is a UK based supplier of interactive eLearning courses and solutions helping organisations improve their safety, compliance and performance. We sell to businesses of all sizes and our prices offer great value however many employees you need to train.
You can edit our mobile compatible courses to include your own policies, procedures or other information so they are completely relevant for your learners. You can access courses through your own LMS, our free Learning management system (up to 500 learners) or we can supply a dedicated Totara system for you. Courses include features such as built in translation, remote update and the great bookmarking and navigation.
If you have had reliability problems with eLearning in the past try ours, we constantly monitor students connection to the LMS avoiding all the frustration and annoyance of learners losing their place or certifications. Attitudes aren’t changed by courses that preach – by audio tutors telling people that they must change their behaviour and attitude, that this is the right way to behave, that it’s important to behave this way.
Behavioural psychologists support that view and assert that behaviour change is effected by learning experiences that include: Observation and imitation of people participants consider to be good examples. Guided practice with tailored feedback on performance given in digestible chunks. Positive reinforcement. Practice in applying and using the new knowledge in a variety of scenarios. Engage in Learning courses combine all these elements focusing on achieving permanent change in participants’ attitudes and behaviours.
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Compliance, Leadership, Health and Safety, Customer Service, Business and IT/Project Management.