More than half of employers have recently checked their pay arrangements to ensure they are meeting equal pay obligations, according to findings from Willis Towers Watson’s Getting Compensation Right survey.
The pressure on UK businesses to pay fairly has caused issues such as gender pay to move up the agenda, with 58 per cent of employers stating that gender pay equality is a more important factor now when making individual base pay decisions.
“Employees want to know they are being paid fairly and have the same chances for promotion,” said Tamsin Sridhara, UK leader, Rewards and Talent, Willis Towers Watson.
“The gender pay gap reporting requirements raised lots of questions for employees and in boardrooms. As a result, we are seeing leading UK employers committed to doing more and leading the way for global peers.”
A push towards better equality can be seen in other policies. Half of respondents to the survey were planning to review their recruitment and promotion processes, while 93 per cent said they have already taken steps, or are planning to, to promote their flexible working arrangements. A further 87 per cent also had plans to promote an inclusive culture in their business.
Hazel Rees, UK leader, Executive Compensation, Willis Towers Watson, reflected: “The pressure on companies to do more to promote fair pay and diverse talent in the workplace is not going to go away. The new disclosure requirements on CEO pay ratios will reflect another dimension of fairness in the workplace. Likewise, the predicted changes to the UK Governance Code will stress the importance of a diverse pipeline into senior roles and give employees a greater voice.”
