Gapsquare recently completed the competitive F Lane Accelerator Programme, ending with the message "Tell your daughters, and your grandaughters, that you were part of ending the gender pay gap"
Ending the Gender Pay Gap, sounds simple, the business case has been made, we’ve seen what happens when companies aren’t proactive, we’ve seen the positive press a company can receive when they publish their pay data and make it their priority to close the gap. But, we have yet to see what happens when a wider range of companies make the decision to end the gender pay gap for good. At the moment there are around 8000 companies who still have not published their pay gap.
The team at Gapsquare, a company providing you with instant data analysis on your gender pay gap, as well as the information you need to close it, are on a mission to cut the amount of time it will take to close the gender gap by 200 years. And they have just finished the accelerator programme that will help them do it.
The F Lane programme, run under three key partners: Vodafone Institute for Society and Communications, Impact Hub Berlin and Social Entrepreneurship Akademie is an accelerator programme with a difference, working exclusively with "social ventures that utilise technology to empower women worldwide". Gapsquare fit snugly into this aim, and has had six weeks of intensive businesses development as a result.
According to Sian Webb, Gapsquare’s Partnerships Manager, the company thought it was time to step it up another gear in supporting companies to expand their levels of diversity at work.
“We knew what were capable of in terms of supporting businesses to develop and maintain diverse teams, but it was time to get the message out there to an even greater extent. In the war on talent, the company that understands its gender pay gap is the company that hires the best talent. And we enable companies to know where their energies are best placed in making changes.”
Their experience thus far in analysing pay data and creating clear visuals to represent the gender pay gap was compounded by the expert training in achieving business growth, and Gapsquare is now using the insights, experience and strategies garnered from this intensive programme to make strides in skipping centuries of pay inequality. Sian noted:
“Organisations that are currently mulling over breaking the bank to understand the gender pay gap may not realise that there exists a tool that instantaneously processes pay data and provides the answers they need. We are passionate about helping those we work with be the best and employ the best”.
The F Lane programme is for 5 social impact businesses are expected to take off over the next few years and who would benefit from support in growing their enterprise. Gapsquare headed to Berlin with organisations such as Good On You, moWoza, Sou Sou and Kaaro Health all on missions to expand the number of businesses they support.
"It has been amazing working with such inspiring organisations" said Sian, "we have built up partnerships, connections and developed networks that will serve us well in reaching our goals."
Why should a business care about closing the gender pay gap?
In the final pitch of the F Lane programme to a room full of investors, Gapsquare’s CEO Dr. Zara Nanu pointed out that the mission to end the gender pay gap and good business sense go hand in hand, both in terms of the teams we develop, and the money we make:
“Ultimately, a business wants to make money, why should we care about who earns how much? Because businesses that increase their diversity and close the gender pay gap see 35% higher returns on investment and higher returns to shareholders. They are also more likely to report increasing their markets, tapping into new markets and an overall increase in innovation”
So what's been the biggest challenge for Gapsquare in completing this programme?
This remarkable opportunity has not been without its challenges. Sian tells tales of hard work, good days and bad days, that ultimately culminated in an inspirational journey for the team:
"We're a small team and balancing the intense F Lane curriculum, including deliverables and continuing the day job has been a real whirlwind. We've continued to develop the business broadly whilst we trained and have just completed consultancy work with clients in a large international organisation based in Washington."
It's safe to say that the appeal of closing the gender pay gap has gone global, and that there are exciting things happening to make work fairer for all. It's time, as Dr. Nanu mentioned in her final pitch, to make decisions today that will provide tomorrow's women with a brighter, fairer future. And before you head home from work without giving this a second thought, imagine how great it would feel to be able to tell your daughter you were one of the leaders who helped close the gender pay gap, for good.
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