Currently, a 20% pay difference exists between men and women across the UK. However, new government plans have indicated that companies that fail to address their gender pay gaps will be exposed in a new league table.
Those organisations with over 250 employees will be forced to reveal their gender pay gap, with the new measures expected to impact on around 8,000 employers across the UK, including private and voluntary organisations.
The new plans were announced by Women and Equalities Minister, Nicky Morgan, as she said that employers must post their gender pay gaps on their website, and will be required to update the changes each year, starting from 2018.
Chartered Management Institute chief executive, Ann Francke, argued “Publishing league tables will drive diversity, bringing benefits not just to women but to business. Closing the pay gap will open the talent pipeline, increase management quality and boost productivity.”
Plans to encourage more girls to take on maths and science at A level will also be on the ‘to-dos’. The government aims to have 15,000 more girls studying the subjects in just 4 years’ time, a 20% increase on current numbers.
UK businesses have been given an early warning of what is to come, and the 2018 deadline will hopefully inspire organisations to close their gender pay gaps ready for the published league tables in two years’ time. We will see if it works!
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