The release of the Hollywood blockbuster, Suffragette, has brought a renewed focus on gender equality, as have the measures the Government is putting in place to now review changes to equal pay legislation.
In July of this year, the Government announced its goal of closing the gender pay gap “in a generation”, and earlier this week, on 25 October, following a consultation over the summer, further measures were announced by David Cameron to help achieve his Government’s stated aim.
WHAT ARE THE IMPLICATIONS FOR EMPLOYERS?
The consultation paper confirmed that it expects new regulations on equal pay to be enacted in the first half of 2016. These will impose two main requirements on employers with more than 250 employees:
- They will have to publish the difference between the average pay for men and for women
- They will have to report on bonuses awarded to men and to women
The exact form of reporting is yet to be confirmed.
The Government has also launched their key objective to eliminate men-only boards from the FTSE 350. This is likely to be a voluntary measure, following the previous success of a similar target for the FTSE 100.