Gapsquare Blog

Our New Year's Resolution? A Global Solution to the Pay Gap in 2018

Posted by Zara Nanu on Jan 4, 2018 2:23:51 PM

 

Much like last year, we look forward to a year of growth at Gapsquare. As part of this growth, we plan on taking the product into a new phase and exploring new geographies. Our growth in the UK market is set to continue at the same rate as last year – an astonishing 300%.

When it comes to looking beyond the UK – “Hallo Deutschland!” as 2018 will see Gapsquare used by more German companies. In the summer 2017, the German Government has introduced new legislation making pay transparency mandatory for companies with over 200 employees - Act to Promote Transparency of Pay Structures (Entgelttransparenzgesetz).


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In the Autumn of 2017 we spent 6 weeks in Berlin on the F>LANE programme, and our Partnerships Manager Sian Webb started working on some exciting partnerships that will propel us into the German market with ease: “Freut mich, Sie kennenzulernen! (I will leave the other newly acquired German vocabulary to Sian).


This year we also have our sights set on the USA. We’ve had our eyes on the US market since 2016, when President Barak Obama introduced an executive order requiring employers to collect data on how much they pay their workers by gender, race and ethnicity. When incumbent president Donald Trump rolled back the executive order, our American dreams were put on hold.


November 2017 brought a partnership with an International Organisation based in Washington DC which is now using Gapsquare. We are having conversations in Silicon Valley and the East Coast about onboarding more American clients. One of our contacts in the valley put it: “this is a good time to bring Gapsquare to the market, as many tech companies want to be like Salesforce – close the gender pay gap and become a great employer for women.” The good news is companies don’t have to spend $3 million (twice) to close the gender pay gap like Salesforce did. A Gapsquare licence that will have a significantly higher impact on the pay gap starts at £167/month.


Our ambition for product growth is fitting for this global expansion. The 2018 version of the tool is set to offer improved narratives that accompany our analysis, expanding our analysis to include pay gaps by race and ethnicity, trends and predictions, as well as executive pay analysis. We will also start partnerships that will make for a cosier and closer integration with some Payroll and HR systems.


Ultimately, Gapsquare’s success is thanks to the number of companies using the tool. In 2017 our tool was used by 122 companies, and we have generated 50 GPG recommendations that will have a direct impact on 150,000 employees. Gapsquare's tool is used by more and more UK companies every day by those looking at UK Gender Pay Gap reporting deadlines and those further afield, we see the progress that clear analysis can make before you publish your data. 


Our long term vision takes us to 2034 by which time we want to have closed the gender pay gap altogether. It just takes one small step to get you closer to closing the gap, join us on this exciting journey at Gapsquare.

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