Why you need to look at your gender pay gap through a Diversity & Inclusion lens
The gender pay gap reporting deadline is approaching. It’s now the law for public authority employers to report by 31 March and by 4 April for most private employers.
Making this data public represents an important first step towards equality. Yet, the pay gap between men and women doing the same jobs still persists. In fact, according to government figures, median pay for all employees was 14.9% less for women than for men in April 2022. The gap is closing, but it’s still bigger than it should be. And the solution will not be a quick fix.
Smart organisations are using their pay gap data to take a broader look at inclusion and diversity across their workforce. Creating a narrative that explains what’s behind any gender pay gaps and forming a comprehensive three-to five-year action plan will be the key to making salaries more equal in the long term. “The gender pay gap is a measure of the difference between the average earnings of men and women (irrespective of seniority or role),” says Katherine Murray, consultant, reward consulting, Gallagher, “Equal pay on the other hand is a legal obligation for every employer to give men and women equal pay for equal work. The only way to achieve this is to look at the problem in the long-term and ensure that inclusion and diversity is embedded throughout an organisation – and regularly measured.”To access please sign in.