27 Sep 2017
A second gender pay gap survey in 24 hours has confirmed the gap in terms of managers pay is well above 10%.From gender pay gap reports done to date, remuneration experts Croner found that the gender pay gap for salaries overall stands on average at 13%. This compares to research by the Chartered Management Institute which found the salary gap was even wider across all management roles at 26.8%. Where the two studies do agree is the huge gender pay gap in the payment of bonuses, with Croner finding the average gap across all positions is 40% and the CMI’s survey saying 46.9%. Clare Parkinson, Croner Reward’s gender pay gap expert, said: “It’s very interesting looking at the data from this research leaves us in no doubt there is a definite gender pay gap when it comes to salaries and a very large pay gap when it comes to bonuses.”
Is your business prepared for Gender Pay Gap reporting in 2018?This is the first year that this research on management pay has been published taking into account the new gender pay gap reporting rules, which require all companies with more than 250 employees to disclose the differences between average male and female hourly pay by April 2018. So far only 77 of 7,850 UK companies to which the new regulations apply have published their gender pay gap. Clare added: “We speak to hundreds of businesses every week and know that the gender pay gap is starting to filter through on their radar. “We would urge all businesses with more than 250 employees to start taking action now as they will legally be obliged to report their gender pay gaps by April 2018.” Croner Reward’s consultants can help businesses calculate their gender pay gap and take action on the findings. Visit www.croner.co.uk or call 0808 145 3374 for more details.
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