The Workplace Gender Equality Agency (WGEA) will start publishing the gender pay gap of businesses with over 100 employees from February 27, 2024, following the passage of legislation. This move aims to increase transparency and reduce the gender pay gap by providing insight into individual businesses' practices. The law also introduces other changes, including reporting on sexual harassment prevention and policies, and additional data requirements. Click here for article.
Increased Transparency: The new law requires businesses to publicly disclose their gender pay gap, fostering greater transparency in the workplace. This will enable comparisons between different sectors and industries and may encourage employers to address gender disparities more effectively.
Impact on Recruitment: Employers must ensure fair recruitment practices to minimize gender disparity. Candidates may consider an employer's approach to gender equality, including pay equality, when deciding on job opportunities, potentially affecting recruitment and retention in the long term.
Internal Processes: Employers need to review their internal recruitment processes to ensure fairness and equity. They must examine how selection and shortlisting practices may contribute to gender disparities and take steps to address any issues.
Preparation for Reporting Obligations: HR teams should prepare for additional reporting obligations, including providing information on employee age, primary work location, and remuneration details. Employers may need time to gather relevant data, especially in larger corporations where policies may be scattered across different departments.
Opportunity for Explanation: Employers will have the opportunity to provide a statement accompanying their gender pay gap data, explaining any factors contributing to the gap and their commitment to addressing it. Preparation for this statement is essential to provide context beyond the raw numbers.
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