WHAT PEOPLE ARE SAYING
“It was clear to us that many employers would need advice and support at an early stage on the new gender pay gap reporting regime. And we felt it was crucial that this advice covered not only the mechanics of the reporting exercise itself but the wider ramifications for the business… To that end, we built contacts with relevant stakeholders such as the Government Equalities Office, Gapsquare and Deloitte…”
“Working with Gapsquare has enabled many of our clients to see at a glance where any gender pay gaps exist and to analyse the factors behind the statistics. With the insights gathered from these analytics, they can now take positive steps to address any issues ahead of the gender pay snap-shot date, and well before the deadline for publishing their data”.
“The UK government’s new regulations on reporting gender pay gap information are aimed at improving diversity within the workforce. The benefits of a more diverse workforce – this refers not just to gender, but also to race, age and other factors – are well documented. According to McKinsey, companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
While these regulations are by no means perfect – there are doubts around bonus calculations, and which types of employees to include – they will help to shed light on what is a major issue affecting companies across the globe. One added benefit is that they will be a catalyst for soul searching among these companies, as they try to identify where the problems lie, and how to fix them.
However, one of the biggest criticisms has been around the administrative burden it will place on these companies as they grapple with collecting and processing the required data. This administrative burden can be reduced significantly through the use of HR software. Gapsquare is one such solution as it provides tools that can calculate the pay per hour of your employees (something required by the new regulations), as well as produce reports, set targets, and compare your data to your competitors.”
HOW IT WORKS
Upload payroll data and get instant insights and visual interpretation of your gender pay gap. Use the insights to explain the pay gap and put together action plans to close the gap.