So, WhAT IS THE SOLUTION?
Most importantly, you need to start preparing your narrative for existing and prospective employees. To do that, you need to dig below the surface of the reporting figures and understand the detail of the story.
Step 1: Finding the headlines
The first and last part of the process is finding your numbers, accurately and to the required standard. To investigate the situation, running the calculations to get a broad outline of the overall picture against the regulations is key. Although there may be some changes when the final regulations are published, what's important now is getting a handle on the problem.
Step 2: Uncovering risk
One of the main concerns of organisations is that publishing the gender pay difference is likely to cause disquiet and uncertainty among previously engaged employees. It's likely that 'no win no fee' lawyers will target high-profile organisations with a large gender pay difference, to encourage female employees to bring a case against their employers for an Equal Pay claim. Doing further discovery work and a full Equal Pay Audit, where you can compare male and female employees doing same work and equal work, will help identify and resolve risk and protect against legal claims.
Step 3: Taking control
Any organisation's aim should be to improve gender pay results over time. At the moment, many clients are struggling to understand what they can do to make a difference, particularly in the face of overwhelming gender pay differences. Developing and tracking key metrics will enable you to understand where current policy and practice may be subtly driving differences which build over time.
Step 4: Leading the way
Building an organisation that employees can be proud of is key to employee engagement and attracting and retaining talent. Creating a clear narrative on gender pay differences with a richer context than the headline figures, published alongside your numbers helps to demonstrate commitment to improvement.