Do you know how to calculate your gender pay gap?
Which method will you use?
And how will you cut your data to gain a real understanding of the inequities?
The commercial imperative for reporting the gender pay gap is stronger than ever. Gender pay gap transparency increases accountability and drives action to advance gender equality in the workplace. It demonstrates to investors, employees and customers that you hold yourself accountable for tackling gender inequality at work, whilst enhancing your brand as an employer of choice. Gender pay gap reporting is not just the right thing to do; individual businesses and the economy as a whole will benefit from transparency.
The Gender Pay Gap: What employees really think
This report, based on a survey sample of more than 1,000 employees, provides a unique insight into public attitudes towards the gender pay gap and transparent reporting. Most employees believe that there is a gender pay gap in their organisation, and think that employers should publish not only their overall gender pay gap but also pay data broken down by grade and job type. Closing the gender pay gap matters to employees – the extent of a pay gap may impact how people feel about their employer, and respondents told us they may use publicly available data to inform decision making about their career. However, they would not act impulsively – instead employees want to discuss the pay gap openly with their employer, understand its causes and find out what action their employer is taking to close the gap. The reality is that legislation is coming. We urge employers to listen what employees are saying through this report and take action now to understand and publish their pay data.
The reality is that legislation is coming. We urge employers to listen what employees are saying through this report and take action now to understand and publish their pay data.
Analysing your pay data is also essential for understanding the key issues driving your pay gap, in turn allowing you to develop an effective and sustainable action plan.
In 2016, the government will enact Section 78 of the Equality Act 2010, which will require employers with over 250 employees to publicly report their gender pay gap. Business in the Community (BITC) is working with employers to prepare now for the potential reporting requirements.
The first toolkit in this series on gender pay gap reporting includes practical guidance on how to measure the gap and break down the data, using a variety of calculations.
Toolkit: Public reporting and the importance of transparency:Download the toolkit and find out more about the business case for tranparency and how to boost employee engagement. – See more at: http://gender.bitc.org.uk/all-resources/factsheets/gender-pay-gap-what-employees-really-think#sthash.LTI7H0gU.dpuf