Inequality between women and men at work worsened during the COVID-19 pandemic and is likely to continue in the near future. International Labor Organization (ILO). The World Economic Forum estimates globally that it will take 267.6 years to close the gender gap in economic participation and opportunity.
Therefore, it is even more important for entrepreneurs who are passionate about this issue to “square” the wage gap between men and women and ethnic groups around the world.
Gap squareThe UK startup, which has been working on this issue since 2017, is one of the few startups that has raised these concerns through machine learning on this issue.
Analytical software that analyzes and tracks wage inequality, wage equality, and wage inequality data is currently available. XpertHR, Part of RELX, private total. TechCrunch understands from sources that Gapsquare has never raised organized venture funding.
The Gapsquare platform and co-founders Dr. Zara Nanu and Ion Suruceanu will join the Xpert HR team. To date, Gapsquare has counted Vodafone, Condé Nast and Serco as clients, equivalent to data from tens of thousands of employees.
Gapsquare’s model is to provide HR and Reward professionals with actionable insights into the company’s existing wage gap.
Gapsquare says it can identify employee demographic variables such as gender, ethnicity, sexual orientation, and disability, identify the causes of wage inequality, and propose and track corrective actions through the FairPay Pro platform. I am.
In a statement, Nanu said: According to a Gartner survey, more than 80% of companies worldwide have wage equality as the workforce changes and the younger generation entering the workforce is increasingly interested in transparency, sustainability and equality. And are taking action to avoid the wage gap. Together, XpertHR and Gapsquare are better equipped to support the evolving needs of our customers and the needs of companies around the world. “
Scott Walker, Managing Director of XpertHR, said: Our mission is simple. Creating a purposeful workplace for everyone in every organization. Both businesses are dedicated to improving the experience of millions of working professionals around the world. Combining Gapsquare’s advanced technology with XpertHR’s expertise in compensation data, employers can build a world where wages meet value, diverse talents thrive, and work is inclusive. “
The teacher’s child and grandson, Nanu, was urged to investigate the issue of gender pay gaps more deeply after working on a women’s anti-trafficking program in Moldova, a small country in Central Europe. She was in poverty when she realized that a woman had been thrown into a sweatshop and paid the minimum wage.
After growing up in Chişinău, the capital of Moldova, she moved to Bristol, England and started Gap Square. Nanu previously made her aware that the Soviet attitude towards gender equality (which the communist regime should treat men and women equally) was actually a reversal of Western practices. I talked about.
Talk to Guardian in 2018 She said: “There was a parliamentary quota for women, a quota for women’s representatives in all departments. Childcare was free so my mother was able to return to work six months after giving birth. When she came to the UK [in 2007] To some extent, I felt like I was going back in time from the perspective of gender equality. “
Ultimately, the background of the Gap Square story reflects the environment in which Nanu was doing business. Raising venture capital to highlight gender disparities in male-dominated companies and venture environments has been a difficult gig. Probably one of the toughest ones. She bootstrapped, reached this point, and left with the team, a testament to Nanu’s tenacity. But it’s also a VC industry accusation. We have never seen the end of this entrepreneur.
Gapsquare, a pioneer of machine learning into gender pay disparity, is acquired by XpertHR – TechCrunch Source link Gapsquare, a pioneer of machine learning into gender pay disparity, is acquired by XpertHR – TechCrunch