UKG (Ultimate Kronos Group), a global provider of human capital management (HCM), payroll, and workforce management solutions, has announced the UKG Close the Gap Initiative to advance pay equity between men and women and underrepresented groups.
The multimillion-dollar initiative from the American multinational firm will fund several programmes, non-profits, awareness-building efforts, education, and research in support of pay equity.
1. Close the Gap Commitment
To close the wage gap, UKG is contributing $0.18 (the current gender wage gap) for every employee paid each year via a UKG payroll solution.
Via their payroll solutions that pay over 15 million employees per year, UKG will invest $3 million in the below programmes and initiatives to help achieve pay equity.
2. Philanthropic Support
UKG is announcing partnerships with four non-profit organisations focused on bringing greater access to education, career opportunities, and pay equality to women, women of colour, and other underrepresented groups. The partners include Grantmakers for Girls of Color, LeanIn.org, Reboot Representation, and 9to5.
These organisations help women, girls, and people of colour, including Black, Latina, and Native American women and those who identify as transgender, grow their education and career opportunities.
3. Pay Equity in America Research Study
UKG is sponsoring research by Harvard Business Review Analytic Services on pay equity in America to examine the existing pay gaps between men and women in the workforce and the progress employers are making. Results will be released in 2022.
4. Educational Resources and Awareness
UKG is partnering with experts to develop educational resources for best practices in HR, compensation planning, recruiting, and hiring to support pay equity and will make these resources publicly available. They are also launching a pay equity awareness campaign to build awareness of the gender wage gap through digital media platforms.
5. Close the Gap Pledge
UKG invites others to join the Close the Gap Pledge to fight workplace inequality. Participants will receive research, educational assets, learning opportunities, and tools to help their workplaces become equitable.
UKG has already received commendations for being an inclusive business. They achieved a #16 rating on Fortune’s Best Workplaces for Women list and was named on India’s Best Workplaces for Women list. It was also named a 2021 AnitaB.org Top Companies for Women Technologists Leader.
Brian Reaves, Chief Belonging, Diversity, and Equity Officer at UKG, said: “Pay inequity is still a very real and pervasive problem in the US and across the world.
“According to US Bureau of Labor Statistics data, for every dollar, a man in the US earned in 2020, a woman made $0.82 — a gap of 18 cents. And that gap widens even further when you look at intersectionalities such as Black, transgender, and immigrant women.
“As an organisation whose purpose is people, we know that an individual’s income impacts every aspect of life, including their health, wellness, family, and future. Through this campaign, we are committing several million dollars towards the work for meaningful and permanent change in pay equity.
“UKG has a long history of helping organisations take care of their people and create great workplaces. We believe in equity for all people, including fair, consistent and equitable pay for everyone regardless of gender, race, or background. Through the UKG Close the Gap Initiative, we seek to enact change related to pay inequity and encourage others to join the fight for more inclusive, fair, and unbiased workplaces.”
To find out more about UKG’s purpose-driven approach, click here.