#EqualPayDay - Equal Pay - Curo Comp

#EqualPayDay

11th November 2015

Monday 9th November marked this year’s Equal Pay Day − the day when campaigners claim women will be working for free for the remainder of the year. A timely reminder as in the UK we wait for the Government’s legislation on mandatory pay gap reporting for companies with more than 250 staff. Consultation closed in September and the format of the Equal Pay Reporting is yet to be confirmed.

The anticipated legislation during consultation caused a heated debate as many argue that taking a complex set of issues and reducing it to a few headline statistics is not an effective approach. Whatever your view, employers in the Private Sector need to start thinking about how to prepare for Equal Pay Reporting and the CIPD’s recommended 5 step approach is a great place to start.

·       Step one: Gather information

·       Step two: Determine which jobs are equal

·       Step three: Identify pay gaps

·       Step four: Determine the causes of pay gaps

·       Step five: Develop an equal pay action plan

So although we don’t know the finer detail of the reporting metrics, employers should really be making sure they undertake steps one two and three above, putting themselves in a position of readiness.

How big is the gender pay gap?

The Equal Pay Act was introduced in 1970 – so why are we still talking about the gender pay gap? The reality is, there is plenty more work to do because men are still earning more than women even in the same jobs.

According to The Telegraph, a woman who started working full time in 1971 would have made £252,888.22 less than her male colleague. The gender pay gap widened in 2013 for the first time in five years, and the gap is worse in private sector jobs. Many hope that the new Equal Pay Gap reporting will encourage employers to take action against the gender pay gap, as unfavourable statistics could harm brand reputation.

Are you ready for pay reporting?