The gender pay gap data your business discloses is powerful. It provides insight to investors, employees and stakeholders about the levels of equality in your workplace, measures female and male participation, and showcases how successfully talent is being maximised.
The UK Government has introduced mandatory reporting requirements in the form of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 (the ‘Regulations’) which came into force on 6 April 2017.
As of 9 April 2018, 10,174 companies have publically reported their first statutory disclosures on the designated government portal. According to the Office for National Statistics, in 2017 the UK gender pay gap was:
- 9.1% for full-time workers
- 18.4% for all staff
- For senior positions, it widens hugely
Common root causes for the gap include an under-representation of women at senior levels; fewer women working in highly-paid professions, and a lack of well-paid part-time or flexible work.
In a bid to tackle workplace discrimination, the Regulations impose obligations on employers with 250 or more employees to publish information relating to their organisation’s gender pay gap. The Prime Minister, Theresa May, has also called on companies with fewer than 250 staff to voluntarily publish this information.
How EY can help
EY’s Gender Pay Gap Reporting are designed to work collaboratively with you to build confidence in your gender pay gap disclosures, help analyse root causes and assure the effectiveness of initiatives targetaimed at addressing these, co-develop strategies for continued improvement and design a culture where people thrive at work.
We can help you:
- identify errors in the way you apply the Regulations to calculate your gender pay gap
- build and strengthen internal systems and controls for collecting and reporting gender pay gap data
- increase confidence in the accuracy and completeness of data and build credibility and trust amongst internal and external stakeholders that you are committed to gender equality
- Identify root causes and help you close the gap by suggesting targeted proven interventions
Our robust approach follows the requirements defined by the International Standard on Assurance Engagements (ISAE) 3000, the recognised standard covering this type of non-financial reporting.
Being an inclusive employer is a fundamental part of our business strategy and led from the top of our organisation.
National Equality Standard
The UK National Equality Standard was developed by business for business and sets clear equality, diversity and inclusion (EDI) criteria against which companies are independently assessed.
Long Term Value
With the world changing rapidly, society’s trust in corporate entities remains at an all-time low. This may lead governments to respond with more regulation, while businesses struggle to hold meaningful conversations with key stakeholders.
Climate Change and Sustainability Services
By combining our deep experience of environmental, social and ethical factors with strategic and operational excellence we enable you to successfully transform your organisation for lasting success.
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Through Women. Fast forward we are playing a vital role as the #PressForProgress main campaign sponsor of International Women’s Day on Thursday, 8 March and beyond.
1. Sources: “New research from The Peterson Institute for International Economics and EY reveals significant correlation between women in corporate leadership and profitability.” EY website, https://www.ey.com/US/en/Newsroom/News-releases/news-ey-new-research-from-the-peterson-institute-for-international-economics-and-ey-reveals-significant-correlation-between-women-in-corporate-leadership-and-profitability, accessed on 8 February 2016.
2. Sources: Women Matter: A corporate Performance Driver, McKinsey & Company, 2007; Global Gender Gap Report 2014, World Economic Forum.
3. Sources: Scaling up: why women-owned businesses can recharge the global economy, EYGM Ltd, 2009; Global Gender Gap Report 2014, World Economic Forum.
4. Sources: “When Women Rule, Nations Prosper,” Columbia Business School website, http://www8.gsb.columbia.edu/articles/node/1633, accessed on 6 January 2015; Global Gender Gap Report 2014, World Economic Forum.
5. Sources: The Credit Suisse Gender 3000: Women in Senior Management, Credit Suisse Research Institute, August 2012; Global Gender Gap Report 2014, World Economic Forum.