British firms to report gender pay gap
Firms in Great Britain with more than 250 employees are now required to report their gender pay gap data on an annual basis. With companies due to make their reports by April 4, many large organisations have begun to release their individual figures.
The UK government has defined the gender pay gap as “the difference between the average earnings of men and women, expressed relative to men’s earnings. For example, ‘women earn 15% less than men per hour’.”
The reporting must include part-time and full-time employees under contract, as well as any overseas workers whose contracts are subject to English, Scottish, or Welsh law (note: Northern Ireland is not a part of the political entity of Great Britain to which the mandate applies).
So far, more than 1,500 different organisations have published their statistics, out of an expected 9,000.
PwC reported a median hourly pay gap of 14%, and a median bonus pay gap of 40%. The remaining “Big Four” firms have also reported their respective median hourly pay gap and median bonus pay gap figures:
· Ernst & Young – 15% (hourly) and 35% (bonus);
· KPMG – 22% (hourly) and 28% (bonus)
· Deloitte – 15% (hourly) and 39% (bonus)
According to the UK Office of National Statistics, the mean gender pay gap in the nation has hovered at around 14% for three years running.