Gender pay gap reporting is the Government’s headline initiative to tackle the gender pay gap in the UK. The Government hopes that increased transparency will be a stimulus to businesses to close the remaining gap over time.
While there is no legal requirement to publish an individual narrative report, when considering the context behind the legislation, producing a separate report helps manage a company’s corporate reputation.
The gender pay gap is part of a bigger conversation around a lack of career progression, senior representation and opportunities to enter more technical or scientific roles specifically within the traditional male dominated industries of finance and technology. This is the most opportune time to own the conversation before it becomes too late and other stakeholders have taken the chance to highlight the potentially negative nature of the released data.
Our analysis on the background, requirements, potential problems and how to resolve them can be found in our full report.
Fundamentally we believe there are three key things every company should do:
- Be transparent
- Demonstrate an inclusive culture
- Ensure all employees can succeed
To chat more about how we can support your gender pay gap reporting needs, please contact Nick Rose on 020 8618 2800.