Earlier this year, businesses with over 250 employees had to publish a report detailing any gender pay gap in their organisation. Over 10,000 employers published their figures for the 2017 reporting year – with a median pay gap of around 10%: almost half the national average. For some, the gap was smaller, but for many, a much larger gap was reported to exist.
While the figures were bandied round in the media – particularly focusing on the industries that witness extremely large gaps – the focus is now very much on what employers are going to do next. The gaps have been revealed: it’s time to work on closing them.
Lots of employers chose to explain the figures in their report with a detailed narrative – outlining what they propose to do to address any pay, or bonus, gap. By putting together action plans, you can take tangible steps towards addressing pay inequality – and driving the diversity agenda forward.
But, the big question is how. There isn’t an easy fix – and the right action plan will depend on the issues that individual employers face. But, there are common themes that are emerging, and all employers will benefit from considering certain areas – like bonus pay, maternity leave, and, for industries that are particularly lacking in gender diversity, recruitment and education.
On 7 June, we’ll be hosting a round table discussion. If you’d like to come and share experiences of compiling your gender pay gap reports and discuss how you’re planning to tackle diversity in your organisation, please come and join us.
If you have a particular query or if there is a particular area you would like to discuss, please get in touch.