‘17% of large employers haven’t conducted gender pay gap reporting yet’

New analysis in advance of the deadline for gender pay gap reporting shows many employers, typically medium-sized businesses, have not carried out gender pay gap reporting.

Gender Pay Gap

 

An alarming number of employers have not yet carried out gender pay gap reporting, according to a new analysis.

The Chartered Institute for Personnel and Development’s [CIPD] Pay, performance and transparency 2024 report says that almost a fifth (17%) of 832 senior executives surveyed at large organisations (250+ employees) said they haven’t carried out gender pay gap reporting and 18% said they didn’t even know whether their organisation had conducted reporting. The organisations most likely to admit to not carrying out gender pay reporting in the 12 months to October 2023 are those employing between 250 and 499 people (29%), despite it being a legal requirement for all businesses with 250 or more employees in England, Scotland, and Wales to report their figures within a year of collecting the data.

As a result, the CIPD is calling on employers to help tackle discrimination and inequalities at work by reporting on their gender pay gap data and analysing that data to create a narrative and action plan to address any inequalities identified.

In addition, despite continued Government opposition to extending mandatory pay gap reporting, the report also found that, in the year to October 2023, 40% of large employers had already carried out an analysis of their ethnicity pay data, 35% had not, while a quarter didn’t know.  Over a quarter (27%) of large employers had conducted a disability pay report, 46% had not and 28% didn’t know.

Charles Cotton, Senior Reward Adviser at the CIPD, the professional body for HR and people development, said: “What gets measured, gets managed, and with just over a month until the end of the gender pay gap reporting year, employers need to get ready to report. We encourage employers to not only calculate their gender pay gap data, but to really understand the reasons for it, and act on them wherever possible.

“Pay gap reporting is an important part of ensuring a fair workplace, as well as having clear business benefits, such as attracting and retaining talent by showing a commitment to good practice. It’s important that employers understand the barriers their people may face, not only relating to pay, but also in terms of recruitment, promotion and development opportunities. Pay gap reporting, along with having an effective narrative and action plan, can identify and help tackle the causes of gender inequality.”

Women on boards

Meanwhile, the independent, Government-backed FTSE Women Leaders Review says the proportion of boardroom jobs in the FTSE 350 held by women increased by 2% last year to 42.1% – up from the 24.5% when the report was launched in 2017. Women now hold 35% of all leadership roles in FTSE 350 companies and just over half of FTSE 350 companies (56%) have achieved or are well on their way to achieving gender balance, although others have work to do. Twenty-nine FTSE 350 Boards still fall below the 33% 2020 target for women on boards. The current target is 40% by the end of 2025.

However, the report notes that progress in the Chair and CEO role across the FTSE 350 has remained “largely flat” with marginal gains offset by losses elsewhere. But it says there are “encouraging indicators of progress to come” with the number of women on FTSE 100 Executive Committees reaching 30% and around a quarter of all FTSE 100 Finance Director and Chief Information Officer roles now being held by women. Such roles are increasingly recognised as important career routes to CEO positions.



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