SATISFYING government proposals for new gender pay gap reporting requirements is “going to be a significant challenge” for British businesses, according to a new survey out today.
The EEF, the manufacturers’ organisation, said that 90 per cent of manufacturing and engineering firms “face a standing start when it comes to forthcoming gender pay reporting requirements”. Less than one in 10 currently reports any gender pay information, while others polled said they lack the right systems in place to provide pay data.
Prime Minister David Cameron said last month that every company with more than 250 employees will have to publish the difference between the average pay of their male and female employees. An open consultation on the proposal is expected to close this month.
Despite the difficulties posed by the proposals, the EEF said that about half of its members saw the requirement as an opportunity. Tim Thomas, EEF head of employment policy said: “The good news is that many firms recognise gender pay gap reporting requirements as an opportunity to improve their systems and to benchmark themselves.”