Mandatory Gender Pay Reporting
From April 2017 Gender Pay Reporting becomes mandatory. For many organisations the prospect of revealing pay information publicly to employees, shareholders and competitors goes directly against the grain. Even worse, revealing information about the differences between men and women’s pay – already an uncomfortable issue, makes the situation more ominous. Some businesses are putting their heads in the sand, but more strategic and pro-active organisations are using the requirements as a catalyst to drive positive change and celebrate success.
Businesses will be required to show;
- the average differences between men and women’s pay
- their bonus levels and
- how the organisation pays men and women at different levels in the business
The figures must be published publicly on your website and retained for three years. High profile brands face a particular problem as public scrutiny is likely to be high. Innecto has been leading work on gender pay with clients in the sport, financial services and retail sectors. Here’s the solution they work through with clients to help them prepare for Gender Pay Reporting:
FINDING THE HEADLINES. The first and last part of the process is finding your numbers, accurately and to the required standard.
UNCOVERING RISK. There is a belief that ‘no win no fee’ lawyers will encourage female employees to bring Equal Pay claims against their employers. Doing a full Equal Pay Audit helps to; identify and resolve any risk and mitigate against legal claims.
TAKING CONTROL. The direction of travel on gender pay is to improve results over future years. Developing and tracking key metrics will enable you to understand where current policy and practice may be subtly driving differences which build over time.
LEADING THE WAY. Building an organisation that employees can be proud of is key to employee engagement and attracting and retaining talent. Creating a clear narrative on gender pay differences with a richer context than the headline figures, published alongside your numbers, helps to demonstrate your commitment to improvement.
From the legal perspective Helen Beech Partner and Head of Employment at Clarkslegal shall discuss;
- reputation damage limitation
- drafting the narratives for publication
- legal privilege on documents
- planning for the next year’s data
- sub-conscious bias and its impact on recruitment pay
- performance bonuses
To register please Click Here