Gender pay gap back in the headlines
Gender pay gap back in the headlines after businesses start to declare figures
The gap in pay between the sexes has been back in the news this week after businesses with over 250 employees began to disclose figures on their gender pay gap.
The gender pay gap is the pay discrepancy between men and women, irrespective of their job or position.
Legislation requires employers with 250 or more employees to publish figures annually showing the pay gap between their male and female employees.
Employers with 250 or more employees must comply with the regulations - but any employer should consider the advantages of being open and honest, and also of analysing and acting upon their own data. An 'employee' should include all workers, including some self-employed people. Agency workers are included, but counted by the agency providing them.
Employers can choose to explain their results and detail actions that are being taken to reduce or eliminate the gender pay gap, should they wish. Results have to be published on the employer's website and a government website.
Businesses should use this exercise as a means of addressing their gender pay gaps and should seriously consider taking action to improve gender equality and reduce or eliminate their gender pay gap.
Certain businesses with significant gaps could see themselves facing many issues, including the risk of losing talented staff - illustrated recently at the BBC when their China editor resigned her post.
In figures just out, women's hourly pay rates are 52% lower than men's at Easyjet, 15% less per hour at Ladbrokes and 33% less at Virgin Money. All three firms say men and women are paid equally when in the same role.
10 November is Equal Pay Day in the UK, and this marks the point at which women effectively start working for nothing until the end of the year due to the gender pay gap. According to an article in The Telegraph the gender pay gap in the UK has fallen to a record low in 2017, but the average woman still earns 9.1 per cent less than the average man, according to the latest data released by the ONS (Office of National Statistics).
For more info on this topic, contact Mark Ridley.
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