Scottish companies that meet certain criteria will soon be required to publish information relating to the salaries and bonuses they pay to the men and women they employ.
The draft Equality Act 2010 (Gender Pay Gap Information) Regulations 2016 was published by the Government in February 2016. Whilst subject to Parliamentary approval, it looks likely to come into force in early 2017.
So who will be affected? Any company with 250 or more employees will have to make public, on an annual basis, certain information about their gender pay and bonus gap. As well as the company’s own website, it will also have to be posted on a Government website, as yet undetermined, with the first gender pay reports due for publication no later than 4 April 2018 (based on pay rates as at 5 April 2017 and, in the case of the bonus pay gap, bonuses paid between 6 April 2016 and 5 April 2017).
As well as the practical considerations of pulling the information together, companies would be well advised to consider also the message that it might convey to existing staff, other stakeholders and the wider public both now and in the future. Whilst the regulations do not require a narrative to accompany the information, this may well be advisable to provide some context to the data.