Making the most of gender pay reporting

Posted in Reporting on 12 January 2018 
By Rachel Crossley, Senior Reporting Consultant

Since the start of the year, barely a day has gone by without new revelations on gender pay gap inequality or discrimination.

Much of this coverage is the result of new rules that require all organisations in England, Scotland and Wales with over 250 employees to report on their gender pay and bonus gap by 1 April 2018.

Gender pay gap reporting is not about burying bad news; it is a positive opportunity to tell your company story. Every company is different and by shining a light on good practices, UK plcs can learn from one another.

Alison Baker Non-Executive Director, Board Advisor and member of Emperor's Strategic Advisory Board

Take-up of the requirements has been slow; with just over 500 out of 9,000 companies reporting so far. Many companies are worried about reporting their figures and their potential impacts. But this is a great opportunity to take control of communications. Use the report as an opportunity to develop your corporate communications, highlight key messages and delve into what really matters.

Bring it to life

So put your data in context and look at what’s happening in your industry or business. Explain what your company is doing and outline plans and initiatives addressing any gender pay gap and diversity.

What lies beneath the data and the narrative you present is how you are trying to attract and retain a diverse workforce and to develop an inclusive environment where all can succeed.

Alison Baker Non-Executive Director, Board Advisor and member of Emperor's Strategic Advisory Board

Why bother?

You can use your report as a springboard to engage with and educate other audiences, particularly your employees. They need to understand what lies behind the figures and what you are doing, so they can take pride in where they work and what they do.

Building your brand

Every company is different with its own story to tell. As with any new regulation, this is a learning curve for everyone. Communicating your story transparently and demonstrating your commitment to equality can help build your company’s reputation, boost staff morale and attract and retain a diverse workforce.

For more information about what you must report, take a look at Emperor’s quick guide to gender pay reporting. And if you have any questions, get in touch with me [email protected].

 

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