Research News October 2014
FEMALE MANAGERS WILL HAVE TO WORK UNTIL THEY'RE 80 TO EARN THE SAME AMOUNT AS MEN
New salary figures show that a 'mid-life pay crisis' is hitting female managers, with women aged 40-plus earning 35% less than men. To earn the same as a male manager over a career, a woman would have to work the equivalent of over 14 years more - which, based on a pension age of 65, would mean working until nearly 80.
The data, published annually by the CMI and salary specialists XpertHR, paints a picture of a widening gender pay gap among managers, hitting professional women hardest in the second half of their working lives. While the current gender pay gap for managers across all ages stands at £9,069, the gap between men and women aged between 45 and 60 stands at £16,680 per year.
To find out more and to download the infographic go to www.managers.org.uk/women.
TAKE OUR MANAGEMENT 2020 BENCHMARKING TOOL
As you will remember, the Commission on the Future of Management and Leadership released its findings last month. The report stresses that employers across the country need to focus on their "Purpose, People and Potential" to improve the UK's long-term economic prospects.
In response to the findings, CMI has launched The Management 2020 Benchmarking Tool. It has been designed to help see how your organisation compares to the national average in the three critical areas - Purpose, People & Potential.
Make sure you try it out by clicking here and share with your networks.
MANAGING THE VALUE OF YOUR TALENT
In organisations of all shapes and sizes, people’s knowledge and skills play a central role – they are the asset that drives value in all other assets. A new report aims to help managers, HR professionals and management accountants work better together to develop that asset.
‘Managing the value of your talent’ is the result of a joint project involving CMI plus CIPD, CIMA, UKCES and the RSA. Drawing on extensive research and employer case studies, it concludes that a combination of hard and soft data provide the best insights into what drives value, organisational culture and people risk. Executives must use that data to improve the effectiveness of investment in people and maximise the talent of their employees.
The report and a framework to help improve the management of this most important of assets can be found on the Valuing your Talent hub.