The government has published final details of the gender pay gap reporting requirements for large employers, alongside an online pay comparison tool which shows financial managers and directors report the second highest gap in pay rates
From April 2017 employers in the private and voluntary sectors will be required to publish both their median and mean gender pay gap figures using data from a ‘snapshot’ period in April. They will also have to publish the proportion of men and women in each quartile of the pay structure, along with the proportion of male and proportion of female employees that received a bonus during the year.
Jayne-Anne Gadhia, chief executive at Virgin Money and the government’s women in finance champion, said: ‘What gets measured gets managed and what gets published gets managed even better. Gender pay gap reporting will encourage all companies to put diversity and inclusion at the heart of their practices and work hard to ensure progress in this area.’
A new online tool designed to enable individuals to check the gender pay gap for their sector and has been created by the government and the Office for National Statistics, using data from the annual survey of hours and earnings.
This shows construction and building trades supervisors have the highest gender pay gap in favour of men, at 45.4%, followed by financial managers and directors at 36.5%. For financial institution managers and directors the figure is 34.1%.
Occupations where pay levels are equal include waiting and bar staff positions, nursing and fishmongers, while midwifery roles have the largest gap in favour of women (-61.8%), followed by probation officers (-25.3%) and fitness instructors (-22.9%).
Emma Codd, managing partner for talent at Deloitte UK, said: ‘Deloitte welcomes the government equalities office announcement on gender pay gap reporting regulations. This is an important milestone on the journey towards greater gender parity at all levels within large UK businesses. ‘Being able to access information about the gender pay gap will enable people to make better-informed decisions about potential future employers, and will also allow companies to consider gender pay data when selecting suppliers and partners.
‘It is critical that government and businesses continue to prioritise this issue; recent Deloitte research found that unless action is taken to tackle it now, the UK gender pay gap will not close until 2069.’
Mandatory Gender Pay Gap Reporting is here.
The online tool for finding out the gender pay gap for a job is here.
