pause-button

Why we can’t afford to hit pause on the Gender Pay Gap

With the heatwave, a World Cup and the start of the summer holidays, April 2018 now seems like a long time ago…

Yet rewind three months back and many of us were waiting for the final wave of organisations to report their gender pay gap – the first time ever organisations with over 250 employees were required to do so in the UK.

At the time there was a significant amount of media coverage, a lot of commentary about the causes of the gap, some incredulity at the high figures reported, some misunderstandings on the difference between the pay gap and equal pay, and some fake news questioning the very existence of the gap at all.

Fast forward three months later and whilst we’re in summer-time mode it appears as if it’s all quiet on the pay gap front.

At GenAnalytics we’re using the summer months to ask organisations to really focus on understanding the causes of their gender pay gap, to undertake competitor benchmarking, and begin to implement the steps required to close the gap.

With just over nine months to go before the 2019 reporting deadline we can’t allow this to become a once a year tick box exercise with the pay gap drawer being open and shut once every twelve months.

Here’s why:

• 78% of employers in the UK with 250 staff or more pay men more than women
• The industries with the highest gaps reported include financial services, utilities, manufacturing, construction, professional and scientific, transportation, and retail
• The UK has a higher gender pay gap than the OECD average
• Scotland’s pay gap although marginally less than the rest of the UK is still higher than the OECD average
• Closing the gender pay gap in Scotland would contribute an additional £6.5bn to the economy

So for those employers who are committed to closing the gender pay gap, talk to GenAnalytics about the insights we can provide to support you.

We have been undertaking benchmark analysis for employers in transport and logistics, construction, legal, and financial services. Our advice to any organisation is based around the following principles:

• Ownership
• Accountability
• Honesty
• Transparency
• Data Analysis
• Measurement
• People Investment
• Action for change
• Continuous tracking

Let’s keep the gender pay gap on the agenda. It is the right thing to do but for businesses seeking to attract and retain talent and beat the competition – it’s the smart thing to do.

For a confidential discussion about the gender gap gap or wider diversity challenges please contact us.

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