Back in January 2017 we wrote a blog about the Gender Pay Gap rules and the requirement for businesses with more than 250 employees to publish their figures by April 2018.
527 companies have decided to carry out this requirement early such as:
- Virgin Money
These companies so far are among major companies to reveal gender pay gaps of more than 15% in favour of men for mean hourly pay.
Full details of all the companies that have complied so far can be found on the Government website.
Matthew Pinto-Chilcott – founder & owner of Consensus HR comments “All companies of all sizes should be looking at their pay structures within their team and ensuring everybody regardless of gender and all areas covered under the Equality Act 2010 are paid the same for the same job as recent events have shown this to be a big issue within the business world. I would advise all business owners regardless of the size of their business to be ahead of the game and carry out an audit using some of the tools provided by Acas and be competent that their business is not falling foul of the law although this is currently only applicable to employers with more than 250 employees.”
The BBC article published on 6th January 2018 goes into more details and explains the financial differences between woman & men.
The cut off date for completion of this data for companies with more than 250 employees is the 6th April 2018. This will all be covered under section 83 of the Equality Act 2010 with the possibility of unlimited financial awards for businesses that do not comply due to it being classed, as discrimination should an employee wish to take their case to an Employment Tribunal (ET) and are not able to justify the difference legally.
Our previous blog goes into detail about who is involved.
Employers must publish six calculations showing there:
- Average gender pay gap as a mean average
- Average gender pay gap as a median average
- Average bonus gender pay gap as a mean average
- Average bonus gender pay gap as a median average
- Proportion of males receiving a bonus payment and proportion of females receiving a bonus payment
- Proportion of males and females when divided into four groups ordered from lowest to highest pay.
Acas on its Internet site provides some key useful information & resources to assist you.