Greater equality for men and women or an administrative nightmare?
Financial services employers will not be greeting the need to publish variable pay, with joy. The differences in bonuses have long been present but undetected due to confidentiality clauses (which have now been outlawed). With the pay gap meaning that female staff will be effectively working for free from November to the end of the year, it's great to see the government tackling a long term unfairness in businesses.
From next year, employers will be required to include information about bonuses awarded to men and women, in their compulsory gender pay gap reports, under new measures announced by the government this week.
The proposals to compel large companies to reveal the difference in pay for male and female employees in their organisation will also be extended beyond private and voluntary sector employers, to include the public sector, Prime Minister David Cameron and women and equality minister, Nicky Morgan, have announced.”
