Three trends gleaned from gender pay gap reporting round two
We’re all aware by now that the second round of gender pay gap reporting has brought disappointing results. But by investigating the data a bit deeper, useful insights have emerged as to how employers can put their best foot forward as we head into the third year of reporting.
April 1st marked the second annual rush for organisations to release their gender pay gap figures. What makes 2019’s results particularly interesting though, is that we now have two full sets of comparable data.
With around 10,500 records made public two years in a row, we are now in a position to see for certain whether anything has actually changed in the disparity of pay between men and women.
At Pearn Kandola, we have been analysing the data to see if this public ‘naming and shaming’ exercise has been enough to force companies into making a meaningful change over the past 12 months.
Disappointingly, virtually nothing has changed, which is also reflected in our own research on the FTSE 100. Across the board, almost eight out of ten companies pay men more than women.
We still have 20 industry sectors paying men more than women. Indeed, while 48% of the organisations that have released their figures are able to say that they have narrowed their gap, 44% have seen their divisions widen, meaning that these figures are effectively cancelling each other out.
At this current rate of development, it has been estimated that it could take up to 60 years to achieve full pay parity between the sexes – and personally, I think this is an optimistic timeframe.
In the meantime though, there are some clear trends that can be gleaned from our analysis, which can be actioned right now.
Read the full article on HR Zone.