newbusiness.co.uk

The Gender Pay Gaps Widens

Almost a year on since the introduction of businesses having to report their gender pay gap, the difference in wages between the sexes is wider ever with four out of ten companies stating that the gap has actually increased. As it currently stands, around 10% of UK employers have reported their gender pay figures ahead of the 4th April deadline for the private sector. Of those companies, 74% report a pay gap which favours men. When the UK announced the introduction of Pay Policies for all firms with over 250 employees, this was undeniably a positive step in the right direction. This policy not only highlighted the injustice that women professionals face within the workplace, but also the lack of reasoning as to why women and men should be paid differently. However, within the UK alone, the gender pay gap is set to be closed in approximately 55 years; an abysmal reality that perfectly describes the UK’s professional arena’s ability to invoke social change. Why, with so much focus and requirement for businesses to improve their gender equality, are we almost a year on and seeing the gender pay gap widen?