Every fortnight we will bring you a bite-sized update on gender pay gap reporting. Compare your statistics to FTSE 100 companies and industry averages, gain insight into the most common commitments to fair pay and progression and scroll down for our 'Disclosure of the fortnight' to see what's catching our attention – and might catch yours too.
Notes - Data taken from Gov.uk, as of 8 February 2018. We note that three companies so far have published incorrect values greater than 100% for mean bonus gap and 28 companies have reported highly improbable mean hourly pay gaps of zero, suggesting that a material number of companies have not followed the Government guidance on calculation correctly.
Spotlight on FTSE 100
Disclosure of the fortnight – most interesting, innovative or insightful: Aviva
- This fortnight, it was Aviva’s gender pay gap report that really stood out for us.
- We loved the honesty in the report, with Group Chief Risk Officer, Angela Darlington, admitting that she is “not proud of [Aviva’s] gender pay gap figures”, and emphasising their desire to welcome change.
- The three clear sections in the report, outlining the what, the why and the commitment to change, aligns with our guidance to include the three “Rs” in any GPG narrative – report, reason and remedy.
- Additionally, their explanation of the differences between gender pay and equal pay was included not only on the first page, but also alongside the later explanation of the drivers of their gap to help ensure all readers interpret the numbers in the right way.
How Willis Towers Watson can help
Whatever stage of the gender pay gap journey you are at, we can help with:
- Calculating and validating your statistics
- Helping you to understand the drivers of the gaps and create an achievable action plan
- Positively communicating your statistics, reasoning and action plan, both internally and externally
To find out more, please contact Jessica Norton
, Tamsin Sridhara
or Alasdair Wood