The gender pay gap reporting deadline is just around the corner for businesses with more than 250 members of staff. Get ahead of the curve with the REC’s 3 easy steps to the process, as we’ve listed below:
1. Register your company through the government’s online reporting service.
2. Prepare your business’ pay gap information using Acas.
3. Publish the information you’ve gathered on your website and the government’s online service by 4th April (see the link on our first point).
As of this year, new legislation means all companies with more than 250 employees will have to make their gender pay gap information public, every year. The deadline is 4th April, so there’s still time to read and absorb the requirements.
The CIPD have also published a handy guide to gender pay gap reporting, which goes into more detail. The regulations require you to publish your data somewhere that is clearly accessible on your company’s website. Employers in the private and voluntary sector must accompany their data with a statement confirming its accuracy.
Within reason, any member of your business’ board of directors can sign off on the report. Some employers will most likely to choose to use their Finance Director, due to their close involvement with the company’s payroll process. Others may feel their HR Director would be more suited to giving a statement about the company’s efforts to address their pay gap.
The Government strongly recommends that all companies include a narrative alongside their data. This will describe factors leading to your specific figures and outline how you plan to act on them.
The Government expects the majority of companies’ reports to demonstrate a significant gender pay gap. Beginning the process early will give you ample time to develop a strategy that demonstrates your company’s commitment to tackling any pay gap that your own data may or may not highlight.