Less than half of UK firms close their Gender Pay Gap
05 April 2019
- Large” businesses with more than 250 employees (on the snapshot date of 31 March for public sector and 5 April for business and charities) must report their gender pay gap
- The deadline for submitting the most recent report was 30 March in the public sector and 4 April for charities and companies
- This is the second year that large companies have been obliged to report their gender pay gap
- Reportedly, the overall gender pay gap reduced slightly from 9.7% to 9.6%
- Failing to report on your gender pay gap can lead to your company being named and shamed by the Equality and Human Rights Commission, as well as an unlimited financial fine
Aspire Comment
Gender pay gap reports have been analysed and show that for the majority of companies, a gender pay gap exists. The largest median gender pay gaps of over 20% were present in the construction, finance, insurance and mining industries.
It is important to note that the gender pay gap is different to equal pay. A gender pay gap can be present due to the number of male/female colleagues in different roles even if every individual with the same job role are paid equally.
To see how HMRC investigate Gender Pay Gap reporting click here.