Associate feature: How businesses can reduce risk and grow their bottom line through gender equality

Every March, International Women’s Day launches a new campaign to raise awareness of gender inequality. There’s a rush of support from employers – on social media, in pledges and podcasts – but what happens on the day after IWD, and the day after that?

Gender inequality is a year-round problem. Employers have been more aware of the issue for decades now, with the introduction of equal pay law, the Equality Act, and gender pay gap reporting – but many aren’t sure how to turn that awareness into action, and create real progress for the women in their workplaces. 

Most businesses know that building workplace equality makes good business sense. Having fair and flexible working practices allows you to attract and retain the best talent, reduce recruitment and training costs, and it makes your business more productive, more innovative, and more profitable. Ensuring safety and wellbeing at work means that you’re more likely to retain the skills and experience of female talent. By recognising the potential impact of workplace sexual harassment, you’re minimising the risk to your business. 

We know it can be difficult for employers to know where to start – especially for SMEs. SMEs are less likely than larger employers to be taking action on workplace inequality, but that doesn’t mean they don’t care about equality. SMEs are less likely to have an EDI manager, or even an HR function that can lead on this work. They often lack the time, resource and support to build an action plan that’s right for their business. 

That’s where Close the Gap can help. Think Business, Think Equality is our free online tool for SMEs who want to build their business at the same time as building an equal workplace. It’s quick, easy, and practical, giving you everything you need to make your business better. You select the topic that you’d like to work on and answer a few questions on your workplace practice in this area. Our tool then generates tailored feedback and a set of personalised actions for your business, written by experts. There’s also supporting guidance for each topic that provides detailed information to help you along the way. 

For many businesses their priority will be recruitment and retention, improving their practice so they can attract and keep the best people. For others focussing on workplace culture and tackling sexual harassment might have the most potential to make a difference. You might want to check that you’re providing equal pay, or that your parental policies are in line with legislation and supporting the parents in your workforce. Think Business, Think Equality covers all of this and more.

Having actions that are tailored to your business means that you won’t need to spend hours searching online for the right information and support, and you won’t be putting energy into actions that aren’t right for your workplace. You’ll be able to take efficient and targeted steps that can create real change. And that change will benefit not only the women in your workplace, but all staff, and your bottom line.

Think Business, Think Equality turns ten this year, and over 12000 businesses have used it to change how they do business. Over the past year, we’ve been working directly with SMEs to update and enhance the tool, ensuring that it is relevant to the changing needs and capabilities of the wide range of businesses in Scotland. We’ll be launching the new version of the tool this Spring, so keep an eye on our website and socials for more information. 

This article is sponsored by Close the Gap. 

www.thinkbusinessthinkequality.org.uk