Recent research has found that companies that provide financial services have the largest gender pay gap.
Is progress being made with the pay gap?
The gap is fairly sizable, with a median gender pay gap of over 30 percent, according to data from British analytics company Staffmetrix. The company compiled information provided by companies within the public sector to find out more about differences in overall pay, and the results are fairly shocking.
The second-highest industry for the pay gap is electricity and gas suppliers, with a 26 percent difference, followed by the construction industry with 23 percent.
This shows that Britain is still facing a big issue with gender inequality in the workplace, but it is clear that progress is being made every year. In fact, the UK gender pay gap has narrowed to its lowest point in 20 years but is still a significant 9.1 percent.
However, it is worth noting that many companies did not give the government their pay gap data in time for it to be assessed, meaning that the study represents less than 1 percent of the 9,000 companies that were obliged to do so.
The study could be more realistic, but many people are already wondering why the other companies didn’t offer their own details. It is very possible that many companies were concerned that they hadn’t fully addressed the gender pay gap within their workplace, although it is impossible to know for sure if they haven’t provided data.
If you want to find out more about how IFA software could benefit you, check out sites like intelliflo.com.
The future of the pay gap
While progress has been made to close the gender pay gap over the last 20 years, it is apparent that it is still a problem in the UK. Minister for Women and Equalities Justine Greening has said that she wants companies to provide action plans to address the issue over the next few years, and she would also like companies to be more transparent with their data about the pay gap.
This research shows that positive changes have been made over the last few years, so now is the time to really push forward so that we can finally close the UK gender pay gap for good.