From 6 April 2017 new legislation was introduced requiring organisations that employ more than 250 staff to publish details of their gender pay gaps.
This new law doesn't only require several elements of pay gap to be reported but it also requires that the organisation publishes an action plan indicating how they expect to close that gender pay gap.
The UK is one of the first countries in the world encouraging employers to be transparent about gender pay gaps.
For listed companies and larger organisations that already have sophisticated measurement, analysis and reporting systems in place, this is likely to cause much of a reporting issue in terms of the numbers. But for smaller companies this is another compliance burden on top of many following hot on the heels of real time reporting and auto enrolment.
However, for companies of all sizes the plan as to how to narrow that gap is likely to take a bit more work. Narrowing the gap will inevitably mean paying more to women which will put more pressure on reward budgets and the P&L.
UK Government closing in on Gender Pay Gap Kimberley Dondo reports on what companies will have to do from today to publish their gender pay gap 06 April 2017 REWARD Staff From today thousands of employers will be required to publish their gender pay gap figures, fully enlightening the public on how vast the pay gap is between genders. Voluntary, private and public sector employers with 250 or more employees will be expected to publish all their figures by April 18. The Government is already working with leading employers who want to publish their figures early.