Government requires all employers of over 250 people to provide Gender pay gap reports.
The controversial topic of equal pay for women and men has been a topic of conversation for decades. Whilst women are a vital asset in today’s workplace, it is a common fact in some industries women can be paid less than men, even when they are in the same position.
Fortunately, the government has now introduced a policy that requires all private and voluntary businesses to provide details of the difference in pay between male and female employees.
The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 means that large employers must calculate and publish the difference in mean and median pay and bonuses between the men and women who they employ. These details need to be published by the 4th April by all required employers alongside a signed statement confirming their accuracy – both the results and statements must remain on the website for the following three years.
What does this mean for businesses?
Around half the UK workforce will be affected by the new gender gap reporting rules, including around 9000 employers and more than 15 million employees.
According to research by NGA Human Resources, 29% of senior decision makers across the country do not view the gender pay gap as an issue for businesses. However, its survey of 250 senior decision makers that are eligible for gender pay gap reporting also found that 20% of businesses required to provide pay gap statistics will not be ready to disclose the information.
Any employer that fails to publish its gender pay data is breaking the law and The Equality and Human Rights Commission has the power to enforce employers to comply with the regulations if they fail to provide the required information.
Due to these new regulations, this could be the beginning of equal pay becoming a priority issue for businesses. Managers, directors and other business decision makers alike can now clamp down on equal pay rights for women, making work places a fairer more happier place to be.