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The Business, Energy and Industrial Strategy (BEIS) Committee is inviting written submissions to the gender pay gap inquiry until 10 April 2018, after the final gender pay gap figures for UK companies were revealed, finding that, on average, 78% of firms pay men more than women. Lawyers from Charles Russell Speechlys, Lewis Silkin LLP, and Stewarts have described the reporting as a ‘seminal moment’ but warn that action against companies who failed to report by the deadline of 4 April 2018, may be ‘little beyond naming and shaming’.
BEIS seek to examine the extent of compliance of businesses with gender pay gap reporting, how effective sanctions for non-compliance are, and if the annual information related to pay required under the Equality Act 2010 is sufficient.
The statistics ‘do not tell the whole story’
Michael Burd, partner at Lewis Silkin LLP, says that gender pay gap reporting marks a seminal moment for us all: ‘It is shining a spotlight on this important issue, and will undoubtedly be a driver for change.
‘Not surprisingly, the statistics demonstrate that there are more highly paid men than women. That is important to know but does not tell the whole story.’
Burd continues that it is vital that employers understand why their gender pay gap exists, in order to get the
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