A law that forces UK companies to publish details of their gender pay discrepancy came into force this week. Could it accelerate the closure of the 18.1 per cent gender pay gap?
Legislation compelling UK employers to monitor and reveal gender pay inequalities came into force on Thursday. It is hoped the new laws will reduce the 18.1 per cent pay gap between men and women – one that employment experts warn would take approximately 40 years to close without ‘concerted action’. The 18.1 per cent figure refers to all workers. The UK gender pay gap for full-time staff is 9.4 per cent.
Helping women to reach their full potential isn’t only the right thing to do – it makes good economic sense and is good for British business
The legislation – which will be enforced by the Equality and Human Rights Commission – makes it a legal requirement for organisations with more than 250 staff to record their pay figures, a first in the UK. Companies of this size will have to publish their first set of figures before April next year. All data will eventually be available on a government database.
“Helping women to reach their full potential isn’t only the right thing to do – it makes good economic sense and is good for British business,” said Justine Greening, minister for women and equalities. “I am proud that the UK is championing gender equality and now those employers that are leading the way will clearly stand out with these requirements.”
The legislation is expected to affect 9,000 companies and 15 million employees.
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