Mandatory Gender Pay Gap Reporting and Pay Ratios coming soon!

The 2015 Small Business, Enterprise and Employment Act (SBEEA) has amended The Equality Act 2010 to require employers with 250 or more employees (in the private or third sector) to publish details of their gender pay gap. Public sector bodies with more than 150 employees have been required to report on gender pay (as well as other equality data) since April 2011.

The Government started its preliminary consultation in July 2015 to look at what data organisations will be obliged to present and how, and finally responded in February 2016 by publishing the requirements for employers to report gender pay gap information and issuing a draft Equality Act 2010 (Gender Pay Gap Information) Regulations 2016.

The Regulations are now not expected to come into force until April 2017.

More details are in our blog post here.

In addition (2018) Pay Ratios – New Reporting Requirements

In June 2018 the government issued draft legislation that requires UK listed companies with more than 250 employees to publish the pay difference between their Chief Executive and their average UK worker’s salary on an annual basis.

The gap between this pay will be called the pay ratio. If given parliamentary approval the requirement to publish this pay ratio will begin on 1st January 2019, so Companies will need to report their ratios in 2020.

More details to follow as things become clearer!

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