As on of the hot topics dominating the recruitment and business sectors at the moment, would like to take some time to discuss the Gender Pay Gap and what this could mean for the future.
Despite the Equal Pay Act coming into law in 1970, it will only be as of April 2017 that large business will need to publish their gender pay gap and gender bonus pay gaps.
Starting in May 2016, businesses have had to track salary data for one year before the results are analysed in 2017, and published in April 2018. This Legislation currently only extends to large businesses (250+ employees), however, it is expected that this could extend to include smaller business (1-249 employees) in the future.
The Gender Pay Gap is currently sitting at just over 18%, which is at its lowest ever level. The UK government are committed to ensuring the gap is eliminated within a generation, but have highlighted several factors contributing to this gap existing:
- A much higher proportion of women work part-time, and part-time workers earn less than their full-time counterparts on average;
- Women are still less likely to progress up the career ladder into high paying senior roles.
The action taken by the government in requiring large employers to publish this information is just one of the several steps that have been taken in an attempt to eliminate this gap, with girls now being encouraged to consider a wider range of careers in areas that are higher paying and traditionally dominated by males. A further review to take place over the next several years to look at how the barriers preventing women from progressing further in their careers can be removed.
What do you think about the action that has and will be taken to reduce this gap?
Lets us know by giving your thoughts below!