The importance of fair remuneration, transparency and inclusion is rising on the agendas of organizations around the world. UK-based startup Gapsquare is partnering with companies to help close the gender and ethnicity pay gaps with cloud-based software that analyses a company’s remuneration structures with gender pay gap analysis, ethnicity pay gap analysis and pay transparency.
As part of the Oracle Global Startup Ecosystem and with their entire technical infrastructure and platform running on Oracle Cloud, Gapsquare has realised several benefits including scalability, credibility and new business opportunities.
Siân Webb, VP Partnerships & Growth at Gapsquare, explains that the World Economic Forum predicted it could take more than 200 years to close the gender pay gap. That was something Gapsquare founder Zara Nanu would not accept, and she set out to use technology to accelerate the pace of change.
“And from that lightbulb moment Gapsquare was born,” Webb said. “If we can use data to inform and educate employers about the key drivers or issues that are causing inequality and use machine learning and AI to place recommendations for companies to help narrow their gap faster, then we can accelerate the rate of change to close the gender pay gap.”
She continues to explain what makes Gapsquare’s software is unique. “Often, we find that in order to do the calculations and also understand where different gaps arise, we need to have data analysts going through that data. However, they might not always have that equality and diversity expertise or perspective and HR managers might not always have the data expertise. AI and data science can take out the potential human bias.”
Gapsquare brings together the data analysis and technology with the equality and diversity expertise. This makes it easier for companies to understand what the core issues are and what is driving the gap, which Gapsquare have built into their machine learning algorithmic software as recommendations to help organisations act faster.
“The main pain points we are solving relate to time and resources. In the UK particularly, legislation requires large companies to report annually on their gender pay gap and we are seeing corporates having to spend six to eight months to get the data and do the analysis. Gapsquare can get all that data analysis in a matter of seconds. Our software also tracks a company’s progress and allows you to become aware of issues and be proactive before things get worse. The results have a positive long-term impact on areas such as retention of talent,” Webb explains.
Gapsquare has experienced tremendous success throughout its journey, with a growing customer base that includes organizations like Vodafone, London Metropolitan Police, Condé Nast and the Office of the Mayor of London. Oracle’s startup program is introducing Gapsquare to Oracle customers, creating international business growth opportunities.
Jason Williamson, who leads Oracle’s global startup program, immediately recognized the company’s potential. “Gapsquare’s software has the power to help organizations do something they know is right but struggle to accomplish because it’s a massive data aggregation and analysis pain point. Gapsquare’s solution is helping businesses create more fair and transparent workplaces—leveraging the latest technology to aid where human bias might arise. It’s truly a transformational technology for business and to better our society.”
Gapsquare is currently exploring integrations with Oracle’s Human Capital Management (HCM) cloud, which would allow Gapsquare to easily extract HR and payroll data safely and securely to deliver more value, insights and solutions to Oracle customers.
“Oracle’s startup program is helping us grow both our product and our business. Running on Oracle Cloud is a big win for us, as we need scale and power with the highest levels of data security. And the global exposure, like OpenWorld in San Francisco and OpenWorld London, has provided incredible business growth opportunities.”
She continued, “We are collaborating from both a business and technology perspective to build the future together.”
Snapshot of Gapsquare:
Join Oracle's Startup Program: Signup for the Oracle Global Startup Ecosystem and gain immediate access to free Oracle Cloud credits and access to business - enablement and marketing resources.