A visionary who strives to bridge gender pay gap with their innovative solutions: Gapsquare

Gender pay equity has become a big point of contention at many companies. Not only have politicians and other public figures spoken out against the gender pay gap, but there has also been a rising tide of high profile lawsuits targeting major employers. In response, many firms have hired external pay consultants and law firms to identify whether they may have a problem with the pay gap from either an HR or legal perspective and to offer possible remedies. FairPay is Gapsquare’s flagship product, built to give you instant insights into the pay gaps across your organization. Gapsquare represents leadership in fair pay through tech, empowering companies to build inclusive workplaces & policies. Gapsquare brings science to the art of developing productive, engaged and diverse teams. The company’s ambition is to apply data science combined with insights from economics and psychology to improve decision-making in HR. This can optimize hiring, promotion, diversity and inclusion, and spending in rewards and incentives.

Data can help understand who the workforce are, how they work, and what work means to them. In turn, this drives increased retention rates, higher productivity, and improved transparency. Recent gender pay gap reporting demonstrates how even basic data on gender and pay can drive change and motivate talent to work for one company or another. The HR function is now beginning to use big data and ML to the extent other departments are, they hold data on important workplace concepts: performance, pay, corporate culture, well-being and fair pay. All of these are measurable and can be better understood through data analytics. Gapsquare uses data for predictive and prescriptive analytics to predict the future and make changes to optimize workforce and talent. Gapsquare FairPay^® is a Flagship product – a leading cloud based SaaS for pay transparency, gender and ethnicity pay gap analysis. The software provides instant insights into pay and wage equity, with inbuilt consultancy into the causes as well as data-driven recommendations for change. The innovative technology uses machine learning and big data analysis combined with equality and diversity expertise. Gapsquare simplifies complex compensation structures to equip HR teams with the power to embed inclusive, data-led organizational solutions to their workforce ecosystem.

Gapsquare was started in 2015 to bring data science smarts to the challenges of the workplace gender pay gap. FairPay^® features at glance

• 100% data safety, security and integrity
• Guaranteed accuracy of data calculations
• What-if scenarios from the interactive dashboard
• Year-on-year data comparisons and trend analysis

• Interactively drill-down into your organization’s pay data
• Detailed statistical data analysis
• Unlimited reports for offline use
• Full regulatory compliance

Gapsquare is a secure, cloud-based service that gives you instant reports of the pay gaps across an organization. Simply upload your HR and payroll data, and in just a few seconds, get instant headline figures including Mean and median pay gap, Proportion of employees across quartile bands, Bonus pay gap, and Proportion of employees receiving bonus. It can do this across demographics, departments, and locations (and more besides). And it can help you explore trends, bonus programs and using ONS data provide a narrative on how your organization compares to others in the same or different sectors. This allows you and your stakeholders to understand your gender pay gap easily, visualized in various different formats. You can pinpoint areas that can be then looked at in more detail, offering insights into your workforce dynamics and recruitment trends, leading to improved planning for HR teams. Using Machine Learning and Artificial Intelligence, Gapsquare’s FairPay software explains the visuals and what the numbers actually mean. The software helps make sense of data, so that HR teams can join up the complex data analysis with our embedded equality and diversity expertise. This narrative can be used to form your gender pay gap report for both an internal or external audience, saving you both time to draft the reports and money on consultancy from diversity & inclusion experts.

By using employee characteristics, you can understand your pay and remuneration structure biases beyond gender. With Gapsquare FairPay, you can compare by ethnicity, disability, sexual orientation, religion or belief. Governments around the world are passing legislation on workforce issues related to gender, race, disabilities, sexual preferences, aboriginal status, and more—and organizations have to comply. Understanding your remuneration models through Gapsquare’s comparator analysis lens allows you to truly understand your pay structures and design a model that is fit for the modern workforce. What proportion of your gap is made up by biases in your pay and reward packages? Do you have a pension gap, or an employee share scheme gap? Does your car allowance scheme favor your male employees? Using Gapsquare FairPay helps you understand any biases within your pay and reward structures. Use data to build fairer remuneration packages for your staff. Use Gapsquare FairPay to look at your insightful trends on your data. Identify gaps over locations and departments. Which areas have the highest gaps? Assess by cost code, contract or country. How does your gap look across all of your different legal entities? Gapsquare gives you the big picture, as well as zoom in on the little things.

Dr. Zara Nanu CEO and Co-founder of Gapsquare

Zara is an expert on how diversity and inclusion can shape more dynamic and productive teams and a more engaging and empowering workplace. She is an entrepreneur who believes business can generate social impact as well as revenues and profits.

“Our ambition is to apply data science combined with insights from economics and psychology to improve decision-making in HR.”