Attention Business Leaders
The Gender Pay Gap Information Act 2021 requires organisations to report on their hourly gender pay gap across various metrics. Since 2022, companies with over 250 employees began reporting their gender pay gap. As of 2024, this requirement has been extended to organisations with 150 employees or more. This requirement will extend to businesses with 50 employees from 2025.
What is required?
The legislation requires employers to disclose statistics on pay differences between male and female employees across a range of elements, including hourly pay and bonuses. Data must also be reported on differences between male and female employees across a range of working arrangements, including part-time employees and those on temporary contracts.
Organisations must choose their “snapshot” date in June 2024. The reporting deadline is 6 months after that date, in December 2024. The reporting period is the 12-month period immediately preceding and including the snapshot date.
For example: An organisation chooses 25th June 2024 as its snapshot date. Its reporting deadline is 25th December 2024, and its reporting period is 26th June 2023 to 25th June 2024.
How is it reported?
The gender pay gap information must be published on the employer’s website or in some other way that is accessible to all its employees and to the public. Employers are required to ensure that their gender pay gap report remains available and accessible for not less than three years from the date of publication or on which they were made available. An online portal for reporting is currently under development.
LINK – https://lnkd.in/e36K4VCP
