UKG announced an effort intended to drive awareness and encourage action that addresses pay disparities between men, women and underrepresented groups.
The UKG Close the Gap Initiative will fund a number of programs, nonprofits, awareness-building efforts, education and research in support of pay equity..@UKGInc announced a pay equity initiative intended to help address pay disparities between men, women and underrepresented groups. #HR #HRTech Click To Tweet
For every dollar a man earns in the U.S., a woman earns 82 cents, said Brian Reaves, UKG’s chief belonging, diversity and equity officer. The gap grows when factors such as race, sexual orientation and immigration status are figured in.
“We know that an individual’s income impacts every aspect of life, including their health, wellness, family and future,” said Reaves. “Through this campaign, we are committing several million dollars toward the work for meaningful and permanent change in the area of pay equity.”
Among the initiatives UKG will fund:
- Close the Gap Commitment: UKG is contributing 18 cents for every employee paid each year through a UKG payroll solution. Currently, that adds up to over 15 million employees each year, meaning UKG will make a $3 million investment in the initiative.
- Philanthropic Support: UKG announced partnerships with four nonprofits that focus on bringing greater access to education, career, opportunity and pay equality to women, women of color and other traditionally underrepresented groups: Grantmakers for Girls of Color, LeanIn.org, Reboot Representation and 9to5.
- Pay Equity in America Research Study: The company is sponsoring research by Harvard Business Review Analytic Services on pay equity in America to examine the existing pay gaps between men and women, as well as the progress employers are making to create more equitable conditions among all genders nationwide.
- Educational Resources and Awareness: UKG is working with experts to develop educational resources for best practices in HR, compensation planning, recruiting and hiring that are known to support pay equity. Those resources will be made publicly available. In addition, the company is launching a pay equity awareness campaign that will focus on building awareness of the gender wage gap through broadcast and digital media platforms.
- Close the Gap Pledge: Participants will be the first to receive research, educational assets, learning opportunities and tools to help make their workplace more equitable.
Recently, UKG earned the 16th spot on Fortune’s Best Workplaces for Women list. The company was also included on India’s Best Workplaces for Women list and named a 2021 AnitaB.org Top Companies for Women Technologists Leader.
Last month, UKG said its fiscal fourth-quarter revenue rose to $872 million, while full-year revenue rose 10% to $3.26 billion. Earnings before interest, tax, depreciation and amortization (EBITDA) for the year grew to $801 million.