The gap in pay between men and women could take 100 years to close, according to a campaign group.
10 November marks the day when a female on an average wage essentially stops being paid in comparison to their male counterparts.
The Fawcett Society said this date has remained unchanged for the last 3 years, demonstrating stalled progress in closing the gender pay gap.
It also claimed that if the mean average pay gap for full-time workers continues to close at the rate it has over the last 5 years, it won’t reach equality until the year 2117.
Sam Smethers, chief executive of The Fawcett Society, said:
“The pay gap is widest for older women as it grows over our working lives but we are now seeing a widening of the pay gap for younger women too, which suggests we are going backwards.”
Gender pay gap reporting is a legal requirement for employers with 250 or more employees.
Eligible employers need to publish statutory calculations on an annual basis showing the pay gap differences between male and female employees.
The following 4 figures must be reported on an annual basis:
- gender pay gap – mean and median averages
- gender bonus gap – mean and median averages
- proportion of men and women receiving bonuses
- proportion of men and women in each group from lowest to highest pay.
Employers must then publish the results on their own site and on the government’s website.
Contact us to discuss your reporting obligations.