Match Group's CEO Audited the Company's Payroll to Make Sure She Was Paying Women Equally and Was Surprised at the Results
- When Mandy Ginsberg took over as CEO of Match Group she vowed to make sure the company was welcoming to women.
- She knew she had to audit the company's payrolls to make sure that women were paid equally to men.
- She hired an outside auditor and was so shocked when they told her that Match was paying women 100% equally that she made the auditor double check the results.
- She now credits one of her long-held leadership practices on how to deal with employee pay.
When Mandy Ginsberg took over as CEO of online dating juggernaut Match Group in mid-2017, she was determined to alter the perception of the industry as a "bro culture" world.
And one step she made was to audit the salaries of her own workforce, which is now 1,500 people, to see if she was paying women and men equally for equal work.
She was shocked to discover that at her company — the largest operator of dating apps with brands like Tinder, Match, Plenty of Fish and dozens of others — her female employees were 100% equally paid, according to the findings by a third-party auditor.
Paying people equally for the work that they do, regardless of their gender, has been required by law since the Equal Pay Act was passed in 1963. And yet women still earn 80 cents for every $1 that men earn, and are often underpaid even for equal work.
Ginsberg didn't just want to give lip service to her internal audit. She hired outside auditor, Syndio, to examine the pay rates of her workforce which is 36% female. The firm didn't just look at job title but grouped employees by what their jobs entailed. If it found a difference in pay between genders, it looked at other non-gender factors such as tenure, education, years of experience to determine if that explained the gap.
And often, it doesn't. Salesforce famously audited its workforce, not just once but twice over the past couple of years and issued $6 million in raises to women and agreed to publicly discuss its process, becoming the poster child for equal pay. The second audit and adjustment was done after Salesforce grew its employee base substantially through acquisitions, CEO Marc Benioff previously told Business Insider.
Match has also grown dramatically through acquisitions. So, when the consultants told Ginsberg that their analysis had found no discrepancy, Ginsberg was so surprised she demanded the third-party auditor go back and check the data again. They did and the results stood.
It was a light-bulb moment for Ginsberg. Although she's only been in the top CEO role for a year and a half, she spent the last half dozen years as the executive in charge of a number of Match's biggest businesses, including Match.com, Match Affinity, Plenty of Fish, OKCupid.
And one of her "guiding principals" has been to offer pay and raises based on people's value to their company "whether they ask for it or not," she said in the press release.
In other words, she hasn't turned compensation into a negotiating game, granting raises only when someone asks. She has simply paid people what the company was willing to pay them and rewarded them without asking for a job well done. And now, she's not only published the results but is speaking out and advocating for this method.
"So often and in so many businesses, women don't make compensation demands. And until we raise our daughters to make those demands, we, as leaders, need to be proactive and methodical about how we think about compensation," she said.
For the boss you loved, the coworker you hated, and everyone in between
Two things are inevitable when someone leaves your team at work: there will be an abundance of sweet treats (I'm partial to those giant cookie cakes from the mall) and there will be a card passed around for everyone to scrawl the professional version of sweet nothings in. Depending on the "importance" of the person, you may get the bonus activities of farewell gifts and/or an all-team champagne toast.
If you are a New York based tech professional and you'd like to attend this event, please email your name and LinkedIn URL to email@example.com.
Whether you are a software engineer, fitness enthusiast or both, you won't want to miss PowerToFly's evening of product demos and networking with the women tech leaders and allies at Peloton.
Founded in 2012, Peloton brought top talent together in its Silicon Alley headquarters to create a new concept in fitness. In their words, "We loved cycling but had a hard time finding a workout that consistently fit our schedules, and our at-home workouts never felt quite up to par. So, we set out to create a world-class indoor cycling studio experience on your time, and in the comfort of your own home."
This event is your chance to hear directly from the women tech leaders and allies who make their revolutionary products like the Peloton Bike, Peloton Tread and Peloton App possible. We'll be devoting a large portion of the event to taking your questions and I know the Peloton team wants to hear from you!
The unique evening will take place on Wednesday, February 12th from 6pm to 8:30pm at 125 W 25th Street.
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A few months ago, Lily Zintak found herself at a crossroads.
She'd been working as a Sales Development Representative in construction management software company Procore Technologies' Austin, Texas office for the better part of 18 months. She'd watched the office grow from less than 200 people to more than 400—and even cut the ribbon when they opened a new floor of offices. She'd made 50-plus sales calls a day, honed an approach to prospecting and connecting with clients that worked for her, and found success. It was at this point in her career, where she had to make a tough decision.