New Findings Provide Positive Movement for Pay Gap

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06 Jan 2017

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It has been reported that the gender pay gap has halved to 5% for women in their 20s, though the discrepancy continues to widen when they reach 30.

The findings have been highlighted by the Resolution Foundation, a think-tank that works to improve the living standards of those in Britain on low to middle incomes. Laura Gardiner, explaining the report, says: “We see the improvement in women’s position even more clearly in what’s happened to the gender pay gap. “We know the gender pay gap isn’t a perfect measure. By comparing the typical pay of all women and all men it obscures the fact that these two groups differ in their characteristics and the jobs they do. And therefore it mixes together positive choices that women make about the balance between work, education and other things with constrained career decisions and straightforward discrimination. “Nonetheless, the pay gap – particularly when disaggregated by characteristics like age – remains a good tool for understanding the gender implications of how we organise work in the UK, and how these have changed over time.” The report reveals that women who are entering the workforce now will still be paid less than male colleagues over the course of their career, however the pay difference for the first decade of their employment has seen a slight improvement. The foundation considered the differences in typical hourly pay between various generations of men and women throughout their careers. They say that the report reflects “positive trends, including rising higher educational participation which women in particular have benefited from, and more women breaking into high-paying industries and occupations.” The report, which highlights the challenges the Government faces to close the pay gap, found that for workers in their 20s:
  • The pay gap was 16% among ‘baby boomers’ born between 1946 – 1965
  • For people born between 1966 and 1980, the gap was 9%
  • And most recently, for millennials born between 1981 and 2000, a 5% pay gap was identified.
Croner Reward Business Manager, Clare Parkinson, comments: “With the Gender Pay Gap deadline dates looming, companies should take action now if they haven’t done so already. “While this report seems to indicate a movement in the right direction, there are a lot of factors and considerations which must be accounted for before generalisations can be made about the Gender Pay Gap on a wider scale. “I’d advise employers to speak with expert consultants before trying to calculate pay gaps, or engage an expert who can calculate and analyse the gap for you.” All organisations with 250+ employees will need to report the overall gender pay gap between all men and women from April 2017. This will need to be reported annually, not just on the organisation’s website, but also a dedicated Government website, which means that the information is accessible to all. With over 40 years in the pay and reward arena, Croner are ideally placed to assist with this vital legislation. We have put together a one-stop solution to make the process as easy as possible, from initial preparation to analysis, conclusions and recommendations: https://croner.co.uk/pay-benefits/gender-pay-reporting/

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