Thousands of companies will publish their gender pay gap figures for the first time today under a new legal requirement.
Companies in the UK with 250 or more employees will be required to publish their gender pay gaps figures by April 2018, which the government said will help to “break the glass ceiling” and create a “more modern” workforce.
The UK is one of the first countries to introduce gender pay gap reporting, with some 9,000 employers required to publish their gender pay gap. It will cover approximately 15 million employees – representing nearly half of the UK’s workforce.
The government said the UK gender pay gap is already at a record low of 18.1%, but it is expected the requirements will help employers to identify the gaps in their organisations and take action to close their gender pay gaps even further.
Justine Greening, minister for women and equalities, said: “We have more women in work, more women-led businesses than ever before and the highest proportion of women on the boards of our biggest companies.
“This has helped us to narrow the gender pay gap to a record 18.1% – but we want to eliminate it completely.”