gender

The wait is over, the first gender pay gap figures have been published, with the information available for anyone to view on the government’s gender pay website. Alison Blackhurst, from HR Solutions, says that businesses must publish their mean and gender pay, bonuses and the proportion of men and women within each pay quartile.

 

To date, five companies have published their information on the website.

Who needs to declare figures and when?

All private and voluntary sector employers with at least 250 staff, must report on their gender pay gap information. They need to provide the mean and median figures for men and women, information about bonuses, and how many of each gender fall into each of the payment quartiles. The snapshot date to take the data from is 5 April and from this date, employers have 12 months to publish all necessary figures.

Who has already published their figures?

The first company to publish their data under the new law was Louver-Lite. The company’s data reveals that male employees earn around 4.8 per cent more an hour than their female colleagues. Male employees also receive on average 13.8 per cent higher bonus pay, compared to female employees.

Who needs to declare figures and when?

All private and voluntary sector employers with at least 250 staff, must report on their gender pay gap information.  They need to provide the mean and median figures for men and women, information about bonuses, and how many of each gender fall into each of the payment quartiles. The snapshot date to take the data from is 5 April and from this date, employers have 12 months to publish all necessary figures.

Pay gap data revealed in annual reports

Two companies who also submitted the same information voluntarily to their investors, published in annual reports, were Virgin Money and Schroders. Virgin Money revealed a gender pay gap of 36 per cent, while Schroders, an asset and wealth management firm, was 31 per cent. Both came above the 18.1 per cent national average for all workers and 9.4per cent for full-time employees.

Action plan

Companies can also publish a copy of their action plan, although this will just be voluntary. The action plan should show how they plan to address any pay gap within their company. And for anyone wanting to apply for a job at the firm, they get to see exactly what pay scale they will be on, how this compares to others and what the employer plans to do to make it fairer.

Alison Blackhurst is HR Knowledge Manager at HR Solutions