Gender Pay Gap Reporting
Are you ready to disclose your performance?
From April 2018, all companies in the UK with over 250 employees must publish their gender pay gap. The legislation requires employers to report annually on six gender pay gap figures and these must be signed-off by a Director to confirm the information disclosed is accurate. Failure to comply will constitute an “unlawful act” and may lead to enforcement action.
Whilst your disclosures may attract extra scrutiny from both internal and external stakeholders looking for robust and credible data, there will be a greater focus on the supporting narrative. Stakeholders will be seeking evidence of practical and timely commitments to closing any gaps.
How we can supportAs well as supporting you comply with the legislation, we can help you go beyond disclosure, to better understand and improve your performance. Ways we can support:
- Clarifying data requirements: Giving confidence that you have understood and incorporated the specific data points required for each of the six indicators e.g.which employees to include and which reporting period to evaluate.
- Testing data collection: Reviewing whether all relevant data points are being collected, collated and calculated accurately by your internal reporting systems.
- Evaluating mid-year performance: Conducting a mid-year evaluation of your data to give greater confidence in your reporting systems, understand your performance, and develop practical actions to begin closing any gaps before reporting in April 2018.
- Developing practical actions: Identifying practical actions to begin closing any identified gaps before reporting in April 2018 and beyond.
- Preparing narrative and identifying actions: Evaluating and contextualising underlying issues and combining with sector benchmarking to develop a robust narrative to accompany your disclosure.
- Verifying data and narrative: Providing assurance over the validity and credibility of the data, enabling internal confidence for the Director sign-off and external credibility amongst your wider stakeholders.
Realising business benefits
- Identifying and knowing where there are challenges in your workforce
- Focusing your resources to address the challenges you have identified
- Attracting and developing talent
- Building staff trust and morale