PwC publishes their Pay-Gap report early and comments
Category: Industry News, Employee, female, information, board, executive
PwC - one of only a handful of companies to already voluntarily publicly report its gender pay gap - comments on the Government’s plans for companies with more than 250 workers to publish average salaries for their male and female employees.
Gaenor Bagley, head of people and executive board member at PwC, said:
“Publication of gender pay information is one small but vital step on the journey to improving equal opportunities in the workplace. Around eight thousand companies will now have to report their gender diversity in the public domain, collectively strengthening firms’ accountability to drive change.
“Publishing our gender pay gap has been a really positive move. It has increased awareness across our firm of the underlying issues and allowed us to take action as part of our wider diversity and inclusion initiatives.
“It has to be right that the gender bonus gap is also published, otherwise you aren’t fully addressing the issue. But a clear definition of what is counted as a bonus is needed to drive consistency across different organisations.
"This shouldn't be about naming and shaming organisations, but using the gender pay gap analysis to understand why they have a gap in the first place and coming up with actions to solve the gap. This is about companies learning from each other on best practice on how to create equal opportunities for all across the workplace. Irrespective of whether businesses like this approach, the Women on Boards review shows that reporting drives change.
“Importantly, any gender pay or bonus numbers need to be supported by commentary. The size of the gap itself isn’t the most important factor – it is whether organisations understand the drivers of the gap and say what they are doing to close it. A key driver will be female representation at senior versus junior levels.
“Clarity on what should be reported is vital so that useful comparisons can be made across sectors and companies."
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