Hundreds of businesses scrambled to meet the April deadline for reporting their #genderpaygap — a monumental step towards creating more equal workplaces and demystifying pay discrepancies in the UK.
All employers with more than 250 employees must publish data comparing men and women’s average pay across the organisation. If they fail to comply, they could face hefty fines by the Equalities and Human Rights Commission. Of those organisations that have reported, 78% pay men more than women, 13% pay women more and 8% said they had no gender pay gap, based on the median measure.
Data also revealed that women outnumber men in the lower-paid positions, and there are too few women at the top in the management and leadership roles, resulting in a gender pay and bonus gap.
Why Equal Pay Equals Success
Making sure your company is paying men and women equally is not just the ‘right thing to do’. Greater gender diversity is good for business. A McKinsey study showed that gender-diverse companies are 15% more likely to earn above-average revenue.
It’s also a key factor for recruitment. A survey from Glassdoor found that companies that fail to pay men and women the same will struggle to recruit female talent in the UK, but that a focus on diversity, gender balance in senior leadership and women’s networks could attract both female and male job candidates. (1)
A new hashtag is making waves in the workforce. Established by a group of cross-party MPs, #PayMeToois an online campaign that gives working women practical advice on how to tackle the gender pay gap where they work. All employees have the legal right to discuss pay issues at work with colleagues and managers.
The UK government has also created an online gender pay gap tool, where users can download gender pay gap data for UK employers.
Close the Gap at Your Company
Promoting salary equality at your company requires analysis, commitment and changes to how you hire and manage employees. Here are 5 ways you can tackle the gender pay gap at your organisation.
1) Take action
Now that you have (hopefully) gathered your salary and bonus data by gender, it’s time to take action and address any discrepancies head-on. Analyse and leverage the data to establish you own realistic action plan.
2) Pledge your commitment
Demonstrate your commitment to equal pay by sharing the results of your analysis with employees and celebrating any adjustments made. You can also show job seekers your commitment by taking the Equal Pay Pledge on Glassdoor. 
3) Make equitable offers
Since research shows that women and older workers are less likely to negotiate, leave less room for negotiation in your offers. Evaluate pay scales at least annually to become more transparent in your approach to pay.
4) Equalise performance reviews
Performance reviews, promotions and bonus distributions can be affected by unconscious bias relating to behavioural traits, favouritism and male-based definitions of success. Provide manager training and controls to ensure women and men are being evaluated fairly.
5) Start the conversation
Encourage employees to use their voice by posting reviews and salaries on Glassdoor.
Learn More & Download
Guide to Diversity and Inclusion in the Workplace
1) OnePoll carried out among 2,000 adults in full or part-time employment from 01/02/17 to 06/02/17