Companies across the UK with more than 250 employees MUST publish their gender pay gap from April 2018 onwards.
This new ruling means that gender pay gap has become an even bigger topic in offices up and down the UK.
So what is the gender pay gap?
In a nutshell, the gender pay gap is the percentage difference between average hourly earnings for men and women in the UK. Based on stats from 2017, across the UK, men are earning on average 18.4% more than women (Office for National Statistics). While this figure has fallen from the 27.5% recorded in 1997, it is still not reducing at a rate that people are happy with.
There are many reasons why the gender pay gap is of importance in the UK. Significantly, discrimination is a highlighted cause of the gender pay gap with one in nine new mothers being either dismissed, treated poorly by their employer or made redundant (The Equality and Human Rights Commission). Women are more commonly found in lower paid and lower skilled jobs and because of child care issues, are more likely to work in part time jobs which are more commonly paid less and with less benefits.
With so many UK businesses committing to gender employment balance as part of a fixed gender diversity initiative, the results of the gender pay gap and the new laws requiring gender pay gap to be published, are helping to highlight the current ‘lay of the land’ and the lengths we still have to go to ensure that all businesses across England, Scotland, Wales and Ireland have equal opportunities for both genders in the workplace.
Under the new legal requirements, from April 2018 companies with 250 or more employees must now publish their pay data (including bonuses).