CIPD research shows marked increase in equal pay audits

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CIPD research shows marked increase in equal pay audits

Research by the Chartered Institute of Personnel and Development suggests that there has been a large increase in the number of organisations undertaking equal pay audits in the past year.

"Encouragingly, an even greater proportion of employers plan to carry one out in 2004," says the CIPD.

The CIPD's annual reward survey of more than 500 organisations, to be published at the CIPD's reward conference on 10 February 2004, will also show that a significant minority of employers plan to raise their retirement age at their organisation over the next two years.

Other findings will reveal that:

• Despite the pension crisis, the vast majority of employers still contribute to the pension arrangements of their employees. However, employers are restricting final salary schemes to existing staff and introducing money purchase schemes for new staff, typically with lower rates of contribution. Most private sector organisations now offer money purchase schemes to new hires.
• Despite cost concerns, employers are more concerned with ensuring their benefit offering (excluding pensions) makes them an "employer of choice", with more employers planning to introduce benefits than reducing them.
• "Cafeteria benefits", which give employees a choice over the mix of cash and benefits they receive, are becoming increasingly popular among employers.

Want to know more?

The CIPD annual reward conference will take place at the Millennium Conference Centre on the 10 February 2004

The Chartered Institute of Personnel and Development has over 118,000 members and is the UK's leading professional institute for those involved in the management and development of people. To find out more visit www.cipd.co.uk

Posted 26 January 2004