Private sector businesses with 250 employees or more, today find themselves in a difficult and unavoidable situation whereby their gender pay gap, as at April 2017, must be published in accordance with s78 of the Equality Act 2010.
This will show, in black and white, the gender pay positon in those businesses both in terms of the overall gender pay gap and the gaps at various levels of pay across their employee population. Bonus information will also have to be published, albeit in accordance with a different methodology.
In our estimation, there is nowhere to hide and for most businesses where there are significant gaps, there will be no fast and simple solutions.
Our advice to affected businesses is to turn your thinking (as quickly as you possibly can!) away from the negative implications of the legislation and towards the huge benefits that gender pay equality will bring about.
Best Practice wholeheartedly believes in the ethical and economic arguments for removing gender pay inequality in the workplace and we are proud to be in the business of helping the UK’s largest organisations do just that. We also recognise however, that simply paying people more to close the gap will rarely be a viable option and that a measured and responsibly managed strategy will be necessary.
We believe businesses require an employment law backed, project approach to achieving gender pay equality with short, medium and long-term milestones built into the plan. Pulling the data together is an important early step – but that is all it is! The hard work begins with deciding upon your businesses long term ambitions and considering the investment you are willing to make to get there. We would love to make that journey with you as your trusted gender pay gap partner.
If you would value an exploratory conversation regarding your Gender Pay Gap situation, please contact us.