A new piece of legislation, The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 will be implemented from 06 April 2017.
The legislation is applicable to employers with 250 or more employees. They will be required to publish the figures on the company’s website and produce the evidence of the company’s compliance each year to the Government. A designated website by the Secretary of State will also be available to upload all gender pay reports which includes the name and job title of the person who signed the accompanying statement.
The companies will also be required to calculate and publish the figures for any gender bonus gap, the proportion of men and women that receives a bonus as well as the proportion of men and women working at each quartile of the companies pay distribution. This is not the same as equal pay, this is to evaluate the difference in the average pay between men and women over a period of time with no relation as to their job role.
Applicable companies will need to publish their first report by April 2018 and will be required to retain the gender pay figures online for three years in the attempt to show progress being made.
Before this is implemented, companies could look at updating any policies to help address any gender pay gaps such as flexible working, people development and enhanced paternity leave and equal shared parental leave entitlement.
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