Gender Pay Reporting Changes - 59% of Businesses Cautious
More than half of UK businesses view the upcoming changes to Gender Pay Reporting as the biggest issue they’ll face over the next five years.
New research by UK law firm Lewis Silkin and Winmark has found that changes to Gender Pay Reporting, due to come into force in October 2016, are the biggest cause for concern that large businesses believe they will face over the next five years.
James Davies, Divisional Managing Partner and Joint Head of Employment at Lewis Silkin, said: “The world of work is changing rapidly. Factors ranging from cost-cutting and technological integration to the rise of agile workspaces are fundamentally changing how people work, and how employers cater to employee needs.
“The challenges faced in this climate are many and varied, and this report demonstrates that employment law is at the top of the agenda for businesses which are looking to ensure frameworks are in place to maximise the productivity, effectiveness and security of their most valuable of assets.”
The changes to Gender Pay Reporting mean that from October 1st, the Equality Act 2010 is expected to come into force, which will require UK organisations with over 250 employees to report on any potential gender pay difference amongst its workforce. This applies to both private and voluntary sector employers, and could mean up to 7,000 large businesses could have to make changes to their policies and procedures.
Looking Forward to October
Whilst there are still things yet to be decided on, such as for example, what the official definition of gender pay actually is, we’ll be keeping a sharp eye on things in the run-up to October.
IRIS payroll software is regularly updated to help ensure compliance with the latest legislative changes. The industry-recognised Earnie range of payroll software provides sophisticated and flexible functionality for the complex payroll requirements of large businesses.
Why not book a free, no-obligation software demonstration of Earnie IQ to see how it can revolutionise your payroll? An IRIS payroll expert will discuss with you the individual requires you need from payroll software and highlight how Earnie software can help.
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