Gender Pay has been on the UK government's agenda for some time, and recent announcements are the latest step in the process of addressing the gender pay gap. The draft regulations are available on the Government website, however in summary they are:
- Employers with more than 250 employees must report, in English, somewhere on their public website;
- reporting will need to cover gaps around both base pay and 'bonus' payments, on a mean and median basis;
- employers must also report the number of men and women within 4 quartiles or pay bands across their organisation (at all levels);
- employers will have until April 2018 to provide their first reports, using data from April 2017 – which means means companies have one year to get their reporting processes in order; and
- gender pay gap league tables with the names of companies not complying will be published by the Government
The Maritime HR Association Salary Survey already provides members with the ability to provide company reports and the ability to publish base salaries and bonuses at 5 levels (p10, p25, median, p75 and p90), for all levels within a company. If you need help to analyse your data or would like advise on how results may impact your company then please contact [email protected].
Furthermore, the development of females in organisations will now start to come more into focus, so if you would like any advice or help around recruitment, development and retention across your management and leadership positions please do get in touch.
The official clock is now ticking and although there are two years until the official deadline, we do encourage members to start this process as early as possible – to avoid any nasty surprises and allow time to address any anomalies.
For more information about any of the above please contact [email protected].