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Is Pay Transparency the New Standard? | Fast Five Shorts · Omni Talk Retail

• 0:00
  UK
• 0:00
  supermarket
• 0:01
  chain
• 0:01
  Co
• 0:01
  Op
• 0:02
  has
• 0:02
  collaborated
• 0:02
  with
• 0:03
  women
• 0:03
  in
• 0:03
  hospitality,
• 0:04
  travel
• 0:05
  and
• 0:05
  leisure.
• 0:05
  The
• 0:06
  yhtl,
• 0:07
  that's
• 0:07
  the
• 0:07
  acronym
• 0:08
  and
• 0:08
  Diversity
• 0:09
  in
• 0:09
  Retail
• 0:09
  dir
• 0:10
  to
• 0:10
  unveil
• 0:11
  a
• 0:11
  new
• 0:11
  gender
• 0:12
  pay
• 0:12
  gap
• 0:13
  toolkit.
• 0:14
  According
• 0:14
  to
• 0:14
  the
• 0:15
  Retail
• 0:15
  Gazette,
• 0:15
  the
• 0:16
  toolkit
• 0:16
  aims
• 0:16
  to
• 0:17
  close
• 0:17
  the
• 0:17
  gender
• 0:17
  gap
• 0:17
  by
• 0:18
  helping
• 0:18
  organizations
• 0:19
  pursue,
• 0:19
  quote,
• 0:20
  meaningful
• 0:20
  change
• 0:21
  and
• 0:21
  is
• 0:22
  designed
• 0:22
  to
• 0:22
  prepare
• 0:22
  companies
• 0:23
  for
• 0:23
  a
• 0:23
  strengthened
• 0:24
  gender
• 0:24
  pay
• 0:25
  gap
• 0:25
  action
• 0:25
  requirements
• 0:26
  coming
• 0:27
  into
• 0:27
  effect
• 0:27
  from
• 0:28
  2027
• 0:29
  in
• 0:29
  the
• 0:29
  UK.
• 0:30
  It
• 0:30
  provides
• 0:30
  guidances
• 0:31
  to
• 0:31
  businesses
• 0:32
  on
• 0:32
  how
• 0:32
  to
• 0:32
  identify
• 0:33
  key
• 0:33
  drivers
• 0:33
  of
• 0:33
  gender
• 0:34
  pay
• 0:34
  gaps,
• 0:34
  develop
• 0:35
  action
• 0:35
  plans
• 0:36
  and
• 0:36
  to
• 0:36
  improve
• 0:36
  recruitment
• 0:37
  and
• 0:37
  progression
• 0:38
  opportunities.
• 0:39
  The
• 0:39
  toolkit
• 0:39
  brings
• 0:40
  together
• 0:40
  practical
• 0:40
  insights
• 0:41
  into
• 0:41
  areas
• 0:41
  such
• 0:41
  as
• 0:41
  menopause,
• 0:42
  menstrual
• 0:43
  health,
• 0:43
  inclusive
• 0:43
  hiring,
• 0:44
  mentoring,
• 0:44
  sponsorship
• 0:45
  and
• 0:45
  flexible
• 0:46
  working.
• 0:46
  Tia
• 0:47
  Kolani
• 0:48
  MBE,
• 0:49
  founder
• 0:49
  and
• 0:50
  chair
• 0:50
  of
• 0:50
  the
• 0:50
  yhl,
• 0:51
  said
• 0:52
  the
• 0:52
  published
• 0:53
  quote
• 0:53
  said
• 0:53
  quote,
• 0:54
  publishing
• 0:54
  gender
• 0:54
  pay
• 0:55
  gap
• 0:55
  data
• 0:55
  is
• 0:55
  only
• 0:56
  the
• 0:56
  first
• 0:56
  step.
• 0:57
  The
• 0:57
  requirement
• 0:58
  to
• 0:58
  publish
• 0:58
  in
• 0:58
  action
• 0:59
  plan
• 0:59
  rightly
• 0:59
  shifts
• 1:00
  the
• 1:00
  focus
• 1:00
  from
• 1:00
  transparency
• 1:01
  alone
• 1:02
  to
• 1:02
  meaningful
• 1:03
  change.
• 1:04
  Jen,
• 1:05
  you're
• 1:06
  our
• 1:06
  guest,
• 1:06
  so
• 1:06
  of
• 1:06
  course
• 1:07
  you're
• 1:07
  going
• 1:07
  to
• 1:07
  get
• 1:07
  the
• 1:07
  A
• 1:08
  and
• 1:08
  M
• 1:08
  put
• 1:08
  you
• 1:08
  on
• 1:08
  the
• 1:09
  spot
• 1:09
  question
• 1:09
  of
• 1:09
  the
• 1:10
  week.
• 1:10
  And
• 1:10
  here
• 1:10
  it
• 1:11
  is.
• 1:12
  Please
• 1:12
  help
• 1:12
  explain
• 1:13
  what
• 1:13
  this
• 1:13
  toolkit
• 1:14
  means
• 1:14
  in
• 1:14
  practical
• 1:15
  terms
• 1:16
  and
• 1:16
  does
• 1:16
  it
• 1:16
  get
• 1:16
  a
• 1:17
  head
• 1:17
  nodded,
• 1:18
  a
• 1:18
  golf
• 1:18
  clap
• 1:19
  or
• 1:19
  a
• 1:19
  standing
• 1:20
  ovation
• 1:20
  from
• 1:20
  you?
• 1:21
  Okay,
• 1:21
  yeah.
• 1:22
  So
• 1:22
  in
• 1:22
  the
• 1:23
  UK
• 1:23
  it's
• 1:23
  required
• 1:24
  by
• 1:24
  law
• 1:24
  to
• 1:24
  publish
• 1:25
  your
• 1:25
  gender
• 1:25
  pay
• 1:25
  gap
• 1:26
  data,
• 1:26
  which
• 1:27
  is
• 1:27
  different
• 1:27
  than
• 1:27
  here
• 1:28
  in
• 1:28
  the
• 1:28
  United
• 1:28
  States.
• 1:29
  So
• 1:30
  that's
• 1:30
  one
• 1:31
  thing
• 1:31
  that
• 1:31
  I
• 1:31
  think
• 1:32
  is
• 1:32
  important
• 1:32
  to
• 1:33
  point
• 1:33
  out,
• 1:33
  like
• 1:33
  the
• 1:33
  data
• 1:34
  itself
• 1:34
  is
• 1:34
  not
• 1:34
  new
• 1:35
  or
• 1:35
  different
• 1:35
  or
• 1:36
  uncommon
• 1:36
  to
• 1:37
  see
• 1:37
  when
• 1:37
  it
• 1:38
  comes
• 1:38
  to
• 1:38
  the
• 1:38
  toolkit,
• 1:39
  what
• 1:39
  is
• 1:39
  it
• 1:39
  practically?
• 1:40
  Well,
• 1:40
  you
• 1:40
  shared
• 1:41
  that
• 1:41
  it
• 1:42
  offers
• 1:42
  insights
• 1:43
  into
• 1:43
  areas
• 1:43
  like
• 1:43
  menopause,
• 1:44
  menstrual
• 1:44
  health,
• 1:45
  inclusive
• 1:45
  hiring.
• 1:47
  I
• 1:47
  think
• 1:47
  what
• 1:47
  it
• 1:48
  really
• 1:48
  comes
• 1:48
  down
• 1:48
  to
• 1:49
  is
• 1:49
  it's
• 1:49
  offering
• 1:50
  guidance
• 1:50
  on
• 1:51
  how
• 1:51
  to
• 1:51
  use
• 1:52
  the
• 1:52
  data
• 1:52
  because
• 1:53
  organizations
• 1:53
  are
• 1:53
  already
• 1:54
  required
• 1:54
  to
• 1:54
  report
• 1:55
  that
• 1:55
  data.
• 1:55
  But
• 1:55
  how
• 1:55
  do
• 1:56
  you
• 1:56
  use
• 1:56
  that
• 1:56
  data
• 1:57
  to
• 1:57
  move
• 1:57
  yourself
• 1:57
  from
• 1:57
  where
• 1:58
  you
• 1:58
  are
• 1:58
  today
• 1:58
  to
• 1:59
  where
• 1:59
  you'd
• 1:59
  like
• 1:59
  to
• 1:59
  go?
• 2:00
  So
• 2:01
  that
• 2:01
  might
• 2:01
  be
• 2:01
  action
• 2:02
  planning
• 2:02
  frameworks,
• 2:03
  that
• 2:03
  might
• 2:03
  be
• 2:04
  templates.
• 2:04
  It
• 2:05
  can
• 2:05
  be
• 2:05
  a
• 2:05
  lot
• 2:05
  of
• 2:06
  leadership
• 2:07
  development.
• 2:08
  Right.
• 2:08
  So
• 2:08
  what
• 2:08
  does
• 2:08
  change
• 2:09
  management
• 2:09
  look
• 2:09
  like
• 2:09
  with
• 2:10
  your
• 2:10
  executive
• 2:10
  team
• 2:11
  if
• 2:11
  you
• 2:11
  really
• 2:11
  want
• 2:11
  to
• 2:11
  close
• 2:12
  that
• 2:12
  gap?
• 2:13
  How
• 2:13
  do
• 2:13
  you
• 2:13
  hire
• 2:13
  differently?
• 2:14
  How
• 2:14
  do
• 2:15
  you
• 2:15
  motivate
• 2:16
  team
• 2:16
  members
• 2:17
  in
• 2:17
  different
• 2:17
  ways
• 2:18
  to
• 2:18
  make
• 2:19
  sure
• 2:19
  that
• 2:19
  you're
• 2:20
  closing
• 2:20
  that
• 2:20
  pay
• 2:20
  gap
• 2:21
  and
• 2:21
  you're
• 2:21
  promoting
• 2:22
  equally
• 2:23
  in
• 2:23
  the
• 2:24
  different
• 2:24
  genders
• 2:26
  when
• 2:26
  it
• 2:26
  comes
• 2:26
  to
• 2:27
  their
• 2:27
  choice
• 2:28
  to
• 2:28
  share
• 2:29
  this
• 2:29
  publicly
• 2:29
  and
• 2:29
  not
• 2:30
  just
• 2:30
  share
• 2:30
  the
• 2:30
  data,
• 2:30
  but
• 2:31
  actually
• 2:31
  share
• 2:31
  the
• 2:31
  toolkit?
• 2:33
  It
• 2:33
  gets
• 2:33
  a
• 2:33
  minimum
• 2:34
  of
• 2:34
  a
• 2:34
  golf
• 2:34
  clap,
• 2:35
  but
• 2:35
  I
• 2:35
  think
• 2:35
  I'm
• 2:35
  going
• 2:35
  to
• 2:35
  go
• 2:35
  standing
• 2:36
  ovation
• 2:36
  on
• 2:37
  my
• 2:37
  side.
• 2:39
  Why?
• 2:39
  Because
• 2:40
  here's
• 2:40
  the
• 2:40
  deal.
• 2:41
  If
• 2:41
  they're
• 2:41
  sharing
• 2:41
  that
• 2:42
  publicly,
• 2:43
  they
• 2:44
  have
• 2:44
  a
• 2:44
  real
• 2:44
  motivation
• 2:45
  for
• 2:45
  change.
• 2:46
  They're
• 2:46
  not
• 2:46
  looking
• 2:47
  to
• 2:47
  just
• 2:47
  fix
• 2:47
  the
• 2:48
  gap
• 2:48
  in
• 2:48
  their
• 2:48
  own
• 2:48
  company,
• 2:49
  but
• 2:49
  they're
• 2:49
  saying,
• 2:49
  hey,
• 2:50
  as
• 2:50
  an
• 2:50
  industry,
• 2:51
  as
• 2:51
  a
• 2:52
  country,
• 2:52
  right,
• 2:53
  like,
• 2:53
  how
• 2:53
  do
• 2:53
  we
• 2:54
  close
• 2:54
  this
• 2:54
  gap?
• 2:55
  And
• 2:55
  the
• 2:55
  only
• 2:55
  way
• 2:56
  to
• 2:56
  do
• 2:56
  that
• 2:56
  is
• 2:56
  to
• 2:56
  share
• 2:57
  best
• 2:57
  practices,
• 2:57
  share
• 2:58
  playbooks
• 2:59
  in
• 3:00
  the
• 3:00
  form
• 3:00
  of
• 3:00
  things
• 3:00
  like
• 3:01
  this
• 3:01
  toolkit.
• 3:02
  So
• 3:02
  I
• 3:02
  think
• 3:02
  of
• 3:02
  it
• 3:02
  similarly
• 3:03
  to
• 3:03
  during
• 3:04
  COVID
• 3:05
  right,
• 3:05
  We
• 3:05
  saw
• 3:06
  retailers
• 3:07
  reaching
• 3:08
  across
• 3:08
  the
• 3:08
  aisle,
• 3:09
  if
• 3:09
  you
• 3:09
  will,
• 3:09
  where
• 3:10
  typically
• 3:10
  things
• 3:10
  would
• 3:10
  be
• 3:11
  tight
• 3:11
  lipped
• 3:12
  and
• 3:12
  sharing,
• 3:12
  hey,
• 3:12
  how
• 3:13
  are
• 3:13
  you
• 3:13
  managing
• 3:13
  this?
• 3:14
  How
• 3:14
  are
• 3:14
  you
• 3:14
  getting
• 3:14
  through
• 3:15
  this?
• 3:15
  How
• 3:15
  are
• 3:15
  we
• 3:15
  going
• 3:15
  to
• 3:15
  make
• 3:15
  it
• 3:16
  from
• 3:16
  point
• 3:16
  A
• 3:16
  to
• 3:16
  point
• 3:17
  B?
• 3:18
  So
• 3:18
  I
• 3:18
  think
• 3:18
  this
• 3:18
  is
• 3:18
  pretty
• 3:19
  incredible
• 3:19
  because
• 3:20
  it
• 3:20
  shows
• 3:20
  that
• 3:20
  they
• 3:20
  really
• 3:21
  want
• 3:21
  to
• 3:21
  change
• 3:21
  it
• 3:21
  for
• 3:22
  the
• 3:22
  industry
• 3:22
  at
• 3:23
  large
• 3:23
  rather
• 3:24
  than
• 3:24
  simply
• 3:24
  how
• 3:25
  do
• 3:25
  we
• 3:25
  check
• 3:25
  the
• 3:25
  box
• 3:26
  internally
• 3:26
  in
• 3:26
  our
• 3:27
  organization.
• 3:29
  I
• 3:29
  100%
• 3:30
  agree
• 3:30
  with
• 3:30
  you.
• 3:31
  I
• 3:31
  think
• 3:31
  it's
• 3:31
  something
• 3:31
  that
• 3:32
  should
• 3:32
  be
• 3:32
  lauded.
• 3:32
  I
• 3:32
  mean,
• 3:33
  I
• 3:33
  think
• 3:33
  back
• 3:33
  to
• 3:33
  my
• 3:33
  time
• 3:33
  as
• 3:34
  an
• 3:34
  executive
• 3:34
  at
• 3:34
  Target,
• 3:35
  being
• 3:35
  charged
• 3:35
  with
• 3:36
  making
• 3:36
  decisions
• 3:37
  in
• 3:37
  this
• 3:37
  arena
• 3:38
  and
• 3:38
  the
• 3:39
  more
• 3:39
  information
• 3:39
  that
• 3:39
  I
• 3:40
  can
• 3:40
  have,
• 3:40
  the
• 3:40
  better,
• 3:40
  the
• 3:41
  more
• 3:41
  information
• 3:41
  the
• 3:42
  industry
• 3:42
  can
• 3:42
  have,
• 3:43
  the
• 3:43
  better.
• 3:43
  And
• 3:44
  it
• 3:44
  just
• 3:44
  helps
• 3:45
  put
• 3:45
  my
• 3:45
  feet
• 3:45
  to
• 3:45
  the
• 3:46
  fire
• 3:46
  in
• 3:46
  terms
• 3:46
  of
• 3:46
  eating
• 3:47
  what
• 3:47
  I
• 3:47
  cook,
• 3:47
  in
• 3:48
  terms
• 3:48
  of
• 3:48
  trying
• 3:48
  to
• 3:49
  promote
• 3:49
  whatever
• 3:50
  is
• 3:50
  required
• 3:50
  of
• 3:51
  me
• 3:51
  as
• 3:51
  a
• 3:51
  retail
• 3:52
  executive
• 3:53
  for
• 3:53
  the
• 3:53
  benefits
• 3:54
  of
• 3:54
  the
• 3:54
  organization
• 3:55
  and
• 3:55
  everyone
• 3:55
  that
• 3:55
  works
• 3:55
  there.
• 3:56
  So,
• 3:56
  yeah,
• 3:56
  I
• 3:56
  100%
• 3:57
  agree
• 3:57
  with
• 3:57
  you.
• 3:57
  And
• 3:58
  what
• 3:58
  do
• 3:58
  you
• 3:58
  think
• 3:58
  here?
• 3:59
  Yeah,
• 3:59
  I
• 4:00
  mean,
• 4:00
  I,
• 4:00
  Jen,
• 4:01
  I
• 4:01
  really
• 4:01
  like
• 4:01
  the
• 4:02
  COVID
• 4:02
  call
• 4:03
  out
• 4:03
  because
• 4:03
  when
• 4:03
  I
• 4:03
  was
• 4:04
  thinking
• 4:04
  about
• 4:04
  this,
• 4:05
  I
• 4:05
  was
• 4:05
  taken
• 4:05
  back
• 4:06
  to
• 4:06
  like
• 4:06
  when
• 4:07
  early
• 4:07
  sustainability
• 4:07
  goals
• 4:08
  for
• 4:09
  companies
• 4:09
  were
• 4:09
  a
• 4:10
  thing,
• 4:10
  when
• 4:10
  they
• 4:10
  were
• 4:10
  giving
• 4:11
  their
• 4:11
  plans
• 4:11
  for
• 4:11
  2025
• 4:12
  or
• 4:13
  even
• 4:13
  with
• 4:14
  some
• 4:14
  of
• 4:14
  the
• 4:15
  DEI
• 4:15
  initiatives
• 4:16
  that
• 4:17
  companies
• 4:17
  were
• 4:18
  trying
• 4:18
  to
• 4:18
  share
• 4:19
  with
• 4:19
  each
• 4:19
  other.
• 4:20
  But
• 4:20
  most
• 4:20
  importantly,
• 4:21
  I
• 4:21
  think
• 4:21
  it's
• 4:22
  the
• 4:22
  suppliers
• 4:23
  who
• 4:23
  will
• 4:23
  benefit
• 4:24
  for
• 4:25
  those
• 4:25
  that
• 4:25
  are
• 4:25
  selling
• 4:26
  into
• 4:26
  co
• 4:26
  op.
• 4:27
  Because
• 4:27
  my
• 4:27
  guess
• 4:28
  is
• 4:28
  that
• 4:28
  if
• 4:29
  this
• 4:29
  is
• 4:29
  truly
• 4:29
  something
• 4:30
  that
• 4:30
  co
• 4:30
  op
• 4:30
  is
• 4:30
  going
• 4:31
  to
• 4:31
  stand
• 4:31
  behind,
• 4:31
  they're
• 4:32
  going
• 4:32
  to
• 4:32
  start
• 4:32
  requiring
• 4:33
  some
• 4:33
  of
• 4:33
  these
• 4:33
  things
• 4:34
  of
• 4:34
  their
• 4:34
  suppliers
• 4:35
  and
• 4:35
  putting
• 4:35
  a
• 4:36
  toolkit
• 4:37
  front
• 4:37
  of
• 4:37
  them
• 4:37
  that
• 4:37
  they
• 4:38
  can
• 4:38
  access
• 4:38
  right
• 4:38
  now
• 4:39
  to
• 4:39
  say
• 4:39
  this
• 4:39
  is
• 4:40
  how
• 4:40
  we're
• 4:40
  closing
• 4:40
  the,
• 4:40
  the
• 4:41
  gender
• 4:41
  pay
• 4:41
  gap.
• 4:42
  To
• 4:42
  your
• 4:43
  earlier
• 4:43
  point,
• 4:43
  Jen,
• 4:44
  this
• 4:44
  is
• 4:44
  how
• 4:44
  we're
• 4:44
  thinking
• 4:45
  about
• 4:45
  hiring
• 4:45
  and
• 4:46
  bringing
• 4:46
  the
• 4:46
  right
• 4:46
  people
• 4:47
  on
• 4:47
  board.
• 4:48
  Because
• 4:48
  I
• 4:48
  wouldn't
• 4:48
  be
• 4:49
  surprised
• 4:49
  if
• 4:49
  we
• 4:49
  see
• 4:50
  down
• 4:50
  the
• 4:50
  road
• 4:50
  this
• 4:51
  becoming
• 4:51
  a
• 4:51
  requirement
• 4:52
  or
• 4:52
  sharing
• 4:53
  some
• 4:53
  of
• 4:53
  the,
• 4:53
  these,
• 4:54
  these,
• 4:54
  this
• 4:55
  data
• 4:55
  of
• 4:56
  how
• 4:56
  their
• 4:56
  companies
• 4:57
  are
• 4:57
  working
• 4:57
  towards
• 4:58
  that
• 4:58
  goal
• 4:59
  becomes
• 4:59
  a
• 4:59
  requirement
• 5:00
  for
• 5:00
  selling
• 5:01
  into
• 5:01
  co
• 5:01
  op
• 5:02
  so
• 5:02
  that
• 5:02
  they
• 5:02
  can
• 5:02
  maintain
• 5:03
  this
• 5:04
  mission
• 5:04
  of,
• 5:04
  of
• 5:05
  really
• 5:05
  eliminating
• 5:05
  this
• 5:06
  gender
• 5:06
  pay
• 5:06
  gap.
• 5:06
  So
• 5:07
  that
• 5:07
  to
• 5:07
  me
• 5:08
  is
• 5:08
  another
• 5:08
  reason
• 5:09
  why
• 5:09
  this
• 5:09
  is
• 5:09
  helpful
• 5:10
  to
• 5:10
  be
• 5:10
  able
• 5:10
  to
• 5:10
  say,
• 5:11
  hey,
• 5:11
  are
• 5:11
  you
• 5:11
  thinking
• 5:12
  about
• 5:12
  selling
• 5:12
  in
• 5:12
  co
• 5:12
  op
• 5:13
  stores?
• 5:13
  Are
• 5:13
  you
• 5:13
  already
• 5:14
  a
• 5:14
  provider
• 5:14
  in
• 5:15
  co
• 5:15
  op
• 5:15
  stores?
• 5:15
  These
• 5:16
  are
• 5:16
  what
• 5:16
  you
• 5:16
  need
• 5:16
  to
• 5:16
  be
• 5:17
  thinking
• 5:17
  about.
• 5:17
  And
• 5:17
  here's
• 5:18
  the
• 5:18
  step
• 5:18
  by
• 5:18
  step
• 5:19
  way
• 5:19
  for
• 5:19
  you
• 5:19
  to
• 5:19
  do
• 5:20
  that.
• 5:20
  Whether
• 5:20
  you're
• 5:21
  a
• 5:21
  small
• 5:21
  niche,
• 5:22
  you
• 5:22
  know,
• 5:22
  mom
• 5:23
  and
• 5:23
  pop
• 5:23
  brand
• 5:23
  coming
• 5:24
  into
• 5:24
  co
• 5:24
  op
• 5:24
  for
• 5:24
  the
• 5:25
  first
• 5:25
  time,
• 5:25
  or
• 5:26
  you
• 5:26
  know,
• 5:26
  your
• 5:26
  craft
• 5:27
  Heinz
• 5:27
  and
• 5:27
  you're,
• 5:27
  you've
• 5:28
  been
• 5:28
  selling
• 5:28
  in
• 5:28
  for,
• 5:29
  for
• 5:29
  decades.
• 5:29
  I
• 5:29
  think
• 5:30
  that's
• 5:30
  the
• 5:30
  other
• 5:31
  part
• 5:31
  of
• 5:31
  this
• 5:31
  that
• 5:31
  I
• 5:31
  find
• 5:32
  really
• 5:32
  interesting
• 5:33
  and
• 5:33
  a
• 5:33
  good
• 5:33
  way
• 5:34
  or
• 5:34
  a
• 5:35
  good
• 5:35
  reason
• 5:35
  for
• 5:35
  them
• 5:36
  to
• 5:36
  be
• 5:36
  promoting
• 5:36
  this
• 5:37
  publicly.