Gender Pay Gap Reporting: Are You Prepared?

Key Considerations

Employees The Most Critical Stakeholder

Failing to engage properly with employees on this topic can have a damaging impact on a business. There is often complexity to the causes of gender pay gap within an organisation, and it is critical that companies take the time to understand the root causes of their gender pay gap and help their employees understand this in the context of their business and their sector.

There is no overnight solution to gender pay gap, however if your organisation is eager to increase the gender balance across all levels of your organisation, then it is important to share credible, achievable plans with your employees.

It is also imperative that companies recognise that dialogues around gender balance and exclusivity should be ongoing – and not relegated to the yearly reporting deadline.

The Reporting Requirements

The UK regulations require large employers in the private sector to take a snapshot of their employee pay data on 5 April 2017 across six criteria* and then report on it no later than 4 April 2018. The data should be reported on the organisation’s own website and also on www.gov.uk/report-gender-pay-gap-data. It is also a legal requirement that it is accompanied by a written statement of accuracy signed by a member of senior management.