Amicus gives finance sector ultimatum on equal pay
15 June 2006
Amicus Britain's biggest private sector
union will give finance sector employers an ultimatum. They have
six months to commit to eliminating inequality in women's
pay.
Women make up the majority of staff working in the financial
services (55%) yet the finance sector has the largest pay gap of
any sector. Women on average earn a startling 41% less than
men.
Margaret Prosser, Chair of the Women's National Commission
will launch the Amicus campaign to end inequality in women's pay in
the financial services. The campaign will be launched at the
union's finance sector conference in Scarborough on 15th
June.
Amicus union has drawn up a charter which it expects all
leading financial services providers to sign up to. The charter
will commit employers to work with Amicus to tackle the root causes
of pay inequality. Amicus maintains that ending inequality in
women's pay and career progression is good for business and that UK
employers can not afford to overlook the contribution that women
can make if they are allowed to break through the glass ceiling.
Pay inequality is also a family issue because it impacts on family
incomes. It is time to realise that gender inequality is not just
an issue for women but an issue for everybody.
Amicus wants employers to follow some of the examples set by
HBOS, Legal & General, Barclays and NAG who have been working
with Amicus to eliminate pay discrimination through carrying out
pay audits which identify where discrimination occurs. The audits
cover gender, part-time workers, age, ethnicity and disability. The
companies all work with the union on a number of diversity
initiatives to remove the barriers for women working in the
financial services.
Amicus National Officer, David Fleming says, "Amicus is giving
the financial services sector six months to commit to working with
the union to end inequality in women's pay.
"If they fail to commit to tackling women's pay the union will
launch a major media campaign to expose those companies which are
not genuine in delivering justice and fairness for their female
employees.
"Some of the UK's leading companies are preventing their
female employees from realising their potential in pay and career
opportunities. It is high time that the Financial Services
committed to ending inequality in women's pay."
Following the Women and Work Commission Report Amicus is
strengthening its campaign in the finance sector for equality for
women. Unless urgent action is taken women will continue to suffer
discrimination in both pay and opportunities. Companies which have
already undertaken pay audits have found that occupational
segregation is a major cause of the gender pay gap with the under
representation of women in management and certain occupations
within the sector. Amicus is warning that unless employers in the
financial services address this issue women will continue to suffer
discrimination in both pay and opportunities.
Amicus has welcomed the Women and Work Commission Report but
the union is disappointed that the commission has not recommended
mandatory pay audits for all sectors. The union will continue to
campaign for their introduction. In the absence of any compulsion
Amicus will maintain pressure on employers to take action via
campaigning and collective bargaining.
ENDS
Contact: Ciaran Naidoo 07768 931 315
