Gender Pay Gap – Reporting arrangements Announced
The government has announced that from 2018, companies with more than 250 employees will be required to make their gender pay gap publicly available on-line. Furthermore, employers that fail to address gender pay disparities will be highlighted in new league tables intended to drive progress. The guidelines will require large companies to publish their gender gap and bonus pay details on an annual basis and indicate how many women and men are in each pay range.
To highlight where the gap falls across the UK, companies’ pay gaps will be ranked by sector, in a league table that will allow women to see where the gap is, and is not, being addressed.
The draft regulations set a specific annual date of 30 April for employers to take a “snapshot” of what employees are being paid, beginning in 2017. Employers will also have to publish the difference between their mean bonus payments paid to men and women, and the proportion of male and female employees that received a bonus. However, bonus information will be worked out over a 12-month period, rather than taken from a snapshot.
The Equality Act 2010 (Gender Pay Gap Information) Regulations 2016 are expected to come into force on 1 October 2016. This will give employers six months before they have to take their first snapshot (in April 2017), and 18 months before they must publish their figures (in April 2018).
Posted on 19 Nov 2016