UK GENDER PAY GAP: It is an effort to combat the gender salary gap in Britain.
The additional notifications mean the law will require companies to publish more pay details.
The UK Prime Minister [David Cameron] announced the changes in July. Big corporations would be compelled to disclose information on how much they pay men as compared to women.
The new rules follow a recent consultation on how to design the new gender pay gap regulations.
It covered details about the bonuses and the relationship between income and the sex of their employees.
Corporations Compelled to Disclose Information
The government reiterated that the biggest employers would now need to declare and reveal information about bonuses. The public sector should also reveal the levels of pay received by its male and female staff.
In Britain, as a rule, female workers earn 20 per cent less than their male counterparts. That is according to statistics released by recent official data.
Minister for Women and Equalities
The UK Minister for Women and Equalities Nicky Morgan was quoted as saying: “It should appall us all that we still do not have gender equality in every aspect of our society”.
Improving Boardroom Diversity
The UK Business Secretary announced a significant increase in the number of women who hold top jobs at FTSE 100 companies.
The findings come from a recent Hampton-Alexander Review. Even so, despite having 349 females now sitting as board members, there is still room for further improvement.
How to Find Gender Pay Gap Data?
The online service helps you find and compare gender pay gap data (e.g. the average difference between how much men and women get paid) for organisations based in the United Kingdom, including:
- Average differences between hourly and bonus pay for men and women.
- Percentage of men and women in the highest, middle, and the lowest pay groups in certain companies.
Note: You can choose to download information about gender wage gaps by the size of an organisation (e.g. with more than 250 employees) or by selecting a certain type of business sector.
Confederation of British Industry
The CBI is the Confederation of British Industry based in London. They are the premier business lobbying organisation. They also provide a voice for employers at a national and international level throughout the United Kingdom.
A spokesman from the CBI responded. He said that eradicating the difference in pay was important. But, blanket rules might not be the best solution.
To be truly effective, gender pay gap reporting must be relevant to each company rather than a box-ticking exercise.
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