by Hamza Shaban
Originally published: June 8, 2017
For the second year in a row, shareholders of Alphabet, the parent company of Google, voted down a proposal asking the tech giant to publish a report on possible pay disparities between its male and female employees. The vote comes at a time when the company is grappling with a federal lawsuit tied to this very issue and as the tech industry faces heightened scrutiny over gender pay, a lack of diversity, and dysfunctional work environments.
Under the proposal, the company would measure and disclose how much its female employees make as a percentage of their male counterparts. The plan, put forward by Arjuna Capital, an investment firm, and other co-filers also called for the company to design a policy to tackle any gender pay disparity.
"Gender pay disparity is not only one of the biggest social justice issues of our time, it poses a risk to companies' performance, brand, and investor returns," said Natasha Lamb, Arjuna's director of shareholder engagement, at the shareholder meeting. "This issue is particularly salient to the technology industry, which struggles to attract, retain, and move women into positions of leadership," she said.