Equality experts Fawcett Society, Spktral and Women on Boards UK have launched a campaign today to help speed up progress on closing the gender pay gap.
The ‘Reset the Timeline’ campaign, led by pay gap specialists Spktral, is urging organisations to report their gender pay gaps sooner. Most employers have all the information they need to produce their gender pay gap figures by the beginning of May. Yet, the majority of organisations delay publishing data until very close to the deadline; usually during the following year, according to Spktral.
“The average company takes 11 months to publish their gender pay gap,” pointed out Fiona Hathorn, CEO of Women on Boards UK. “That’s not good enough. Data matters and if you’re going to make good decisions you need to Reset the Timeline.”
SPEEDING UP PROGRESS
In 2018, less than 2% of organisations submitted their report before the end of July. This figure is startlingly low, considering that organisations could actually produce their report months earlier. However, many delay publishing until the last minute. Usually the deadline is 30 March for public sector and 4 April for private and third sector employers. Spktral CEO Anthony Horrigan believes that by delaying firms are missing out on opportunities not only to be transparent about any inequalities and pay gaps; but also to do something about it sooner.
“The pandemic is having a disproportionate impact on women due to care responsibilities, furlough, job losses, etc,” noted Horrigan. “Now, more than ever, organisations need to understand how the representation of women and men throughout their workforce is changing so that they can take the necessary steps to curb inequalities.”
The equality campaigners are challenging companies to start the pay gap reporting analysis the year sooner; and complete it by 31st July 2021. “Report your Gender Pay Gap as soon as possible; understand the drivers that have contributed to your Gender Pay Gap; and take meaningful action to address them,” advised Felicia Willow, CEO of the Fawcett Society.
MEANINGFUL OUTCOMES
Firms must also do ‘more’ and ‘better’ say the campaigners. Organisations can do better by improving the whole process and shifting their focus away from just reporting and pay gap percentages; and work towards more meaningful outcomes, representation, action plans and progress. Those that do will reap the benefits. “You will make positive difference, not just for your staff, customers and society, but also for your business,” added Willow. “Research has shown time and again show that employers who do better with gender equality are more financially successful.”
Finally, firms must think bigger than gender pay gaps, advised Spktral. Show your commitment to a diverse and inclusive workplace by looking at what you need to do to start analysing other gaps like ethnicity and disability too.
A recent study revealed that gender pay gaps are widest for women aged 50+ in the UK. Click here to read more.
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