Only a third (35%) of organisations currently have all the data they will need to produce a gender pay gap report, according to a survey from Willis Towers Watson.
However, most companies (91%) said they were prepared for the new gender pay gap reporting regulations, due to come into force in 2017. The majority (81%) of respondents felt they have the tools required to calculate their gender pay gap, and 63% have already taken action to prepare for the new legislation.
Emma Codd, managing partner for talent at Deloitte UK, said that while it is good to see that a majority of companies have already taken action, there is still work to be done.
“For us the issue was less about the logistics of calculating and reporting our gap and more about ensuring that the work we were doing on gender diversity would have a lasting impact on closing this gap and was understood by our stakeholders,” she told HR magazine.
“We see this as a mix of specific actions and cultural change – we have clearly documented actions agreed at the executive level and have been working hard on also ensuring that our culture enables women to have a successful career within our firm and reach their full potential.
“To us, reporting our gap was one step in a long journey,” she said.
Tom Hellier, GB practice lead for reward at Willis Towers Watson, said that the survey shows the first challenge for many employers will be accessing the data. “For most companies base pay figures are easy to access and analyse, but to comply with the legislation the same will need to be true of total pay data, the various components of which are often scattered across multiple systems,” he said.
“Total pay includes bonuses, sales commissions, maternity pay, and car allowances to name just a few, so for some organisations gathering this information will be quite a challenge.”
