Very few companies have published data on their gender pay gaps yet, despite new regulations coming in to force in April this year, according to a survey by Mercer. The firm reckons this is partly due to the fact that the majority want to create a narrative around their figures, which is slowing down publication of the required data on the official web site.
Chris Charman, principal and reward expert at Mercer, said:
‘Although committed to the principle of reporting, many UK companies feel the figures will show an overly simplistic view and so see a need to explain further to their staff and shareholders. Many companies are concerned about the risk of reputational damage when publishing their figures, especially as there still seems to be much confusion between the gender pay gap and the legal requirement of equal pay for equal work.’
Mercer’s survey shows that, although perceptions of the new regulations have improved since they were finalised, companies still find them:
The survey identifies a dramatic change in the attention devoted to equality actions beyond pay, with some leading organisations addressing the issue already by setting targets for female representation at the most senior level in the organisation, for example.
‘2017 Gender pay gap reporting survey’, Mercer: www.uk.mercer.com/our-thinking/career/2017-gender-pay-gap-reporting-survey-results.html