It’s that time of year again, when UK companies of 250+ employees are required to submit their gender pay gaps (GPGs) to the government. These will then be published by the UK government’s gender pay gap service – a publicly accessible website where anyone can check the salary or bonus gap of any company they’re interested in.
The data shared in GPG reports has a number of impacts for your employees, your employer brand, and your industry.
- Employees are more likely to stay in an organisation where they feel pay decisions are objective and transparent.
- Your employer brand is shaped by your publicly available D&I reputation, with 86% of candidates taking this into account.
- Your industry can reach a better understanding of gender equity across the sector through GPG reporting.
This impact is significant, but GPG reporting is just the start. Ethnicity pay gap (EPG) reporting is said to be required in both the UK and the US imminently.
Getting ahead of this requirement would ensure that companies are prepared to report on EPGs when required, but also show their employees that they are truly committed to ensuring equity across their organisation, including holding themselves accountable. Broadening this reporting to other aspects of diversity would further demonstrate that commitment. Find out more and start harnessing your organisational data to make an impact in D&I.
