News

We are pleased to present an insightful article by Victor Steenbakker, at our Member Company, Montae & Partners, highlighting the Equal Pay Day.   In the Netherlands, there is an ongoing issue of unequal pay between men and women. On average, women still earn less than men for the same work, despite advancements in gender equality. Equal Pay Day on 14 November symbolises the point in the year from which women effectively work for free compared to their male colleagues.

Consequences of the Pay Gap

The pay gap impacts not only women but also society as a whole. Women face reduced financial independence and pension accrual, which jeopardises their long-term economic security. The pay gap also exacerbates broader societal inequalities, such as disparities in living standards and access to resources.

Are You a Good Employer?

The pay gap is a national issue, but employers play a crucial role in addressing it. Being a good employer is fundamental to creating a healthy and productive work environment. This goes beyond fulfilling legal obligations—it involves fostering an inclusive and equitable workplace culture where all employees have equal opportunities. Tackling unequal pay between men and women is an essential component of this responsibility.

Measuring Is Knowing

To understand whether you provide equitable pay, you must analyse employee data. This data is critical for closing the pay gap. By evaluating internal personnel information, employers can gain insights into current pay structures and address inequalities. Focus on the following areas:

• Pay Differences: Compare the salaries of men and women in similar roles with comparable experience.
• Job and Pay Structures: Develop a robust framework with a transparent and objective salary structure as its foundation.
• Promotion Patterns: Analyse promotion histories to identify disparities in career advancement rates between men and women.
• Negotiations: Examine differences in starting salaries and post-promotion pay between genders.
• Part-Time vs Full-Time Work: Measure the impact of part-time versus full-time work on pay and career progression. Importantly, avoid using this as an excuse to justify discrepancies!

Treat this as a baseline measurement and design targeted interventions, evaluating their effectiveness annually or quarterly. This approach creates a dynamic and effective model for bridging the pay gap.

Conclusion

Start today by objectively measuring your employee data. This is the only way to initiate the right conversations, implement meaningful measures, and set achievable goals. The ultimate aim is clear: to be an employer who ensures equal pay for all. This article was written by Victor Steenbakker, to find the original article, visit: https://www.montaepartners.nl/articles/14-november-equal-pay-day-vanaf-vandaag-werken-vrouwen-voor-niets/

We are thrilled to announce Funda Sezgi, co-CEO of Norrsken Foundation, as one of our distinguished speakers at the Swedish Chamber of Commerce Sustainability & Innovation Summit 2024 on December 6, 2024. Funda Sezgi is the co-CEO of Norrsken Foundation. Norrsken is an impact ecosystem where entrepreneurs can find everything they need to make saving the world their business. Our work stems from a belief in entrepreneurship and new technology as forces that can positively impact the world. We run award-winning Norrsken House hubs in Barcelona, Spain; Kigali, Rwanda; and Stockholm, Sweden. Norrsken’s five funds have raised more than $500 million USD to support exceptional entrepreneurs who combine profit with positive global impact: Norrsken VC, Norrsken22, Norrsken Accelerator, Norrsken Launcher, and Norrsken Africa Seed Fund. Norrsken is a non-profit, non-partisan, and non-religious foundation, founded by Niklas Adalberth, co-founder of the payment services unicorn Klarna. Before assuming the co-CEO role, Funda Sezgi co-founded Norrsken's Accelerator. Over two years, the accelerator received approximately 5,000 applications from 120 countries and invested in 40 of the most promising early-stage impact tech startups from around the world. Funda also held the COO role at Norrsken Foundation, where she was responsible for operations, partnerships, and expansion to Africa and Europe. She also headed Norrsken House and was in charge of setting up and running their first entrepreneurial hub in Stockholm. Funda has been part of the management team since joining Norrsken in its early days. Prior to joining Norrsken, Funda worked as a market analyst, a management consultant, and led an international acceleration program helping social entrepreneurs scale into new markets. Funda earned a PhD in strategic management from IESE Business School, where she focused on impact ventures and their scaling strategies. She also spent time in Silicon Valley as a visiting scholar at Stanford University. Don't miss the opportunity to hear from Funda and gain valuable insights into the intersection of entrepreneurship, innovation, and sustainability. Register now to be part of this engaging discussion on shaping the future of global impact. Click to reserve your spot.