Below is a post originally written by PowerToFly Partner BounceX. Go to BounceX's page on PowerToFly to see their open positions and learn more.
"The equal pay pledge is a great first step in terms of building a truly inclusive culture at BounceX and sends a strong powerful message in the tech industry," says Ryan Lathrum, BounceX's Director of Community & Inclusion. "I'm excited to help build a structure that reflects how employees across the company want to be represented."
Read more about our diversity and inclusion initiatives in Namely's blog! http://bit.ly/BounceXDI
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.
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It's April 10th- and this is how far into the year women have to work to match their male counterparts' salaries of the previous year.
That's over 420 more hours of work for doing the same job.
Instead of making up the wage gap, you could be climbing Mount Everest twice, watching the full lineup at this year's Coachella Music Festival 6.5 times, and closing out your first trimester of pregnancy. We'll take Beyonce 6.5 times, thank you!
To match the average wage gap, (yes, the wage gap varies by ethnicity) we're offering 30% of all of our webinars for the next two weeks with the code:
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While studies show that we still have 169 years before the world reaches a true wage equality- this promotion wont last that long! Enjoy 30% off until April 20th 2017.If you think you deserve more than 30% (we all do!) sign up to be a PowerToFly VIP- where for less than your weekly latte you can access all of our webinars for free, as well as early access to jobs, mentor matching, and more!