The introduction of mandatory reporting of the gender pay gap for organisations with over 250 employees was roundly welcomed earlier this month, and rightly so.
However, research from the Korn Ferry Hay Group suggests that the new legislation could have a limited impact in resolving the discrepancies in pay between the genders. This is because the research found that men and women doing the same job at the same level were paid virtually the same. The gender pay gap becomes stark at higher levels with fewer women in more senior roles. There is an ongoing issue with under-representation of women in top executive positions that needs to be tackled.
Britain’s new gender pay gap legislation could fail to fully resolve discrepancies in pay between men and women, one of the world’s largest executive search companies has found. Korn Ferry Hay Group said that its analysis showed that the gender pay gap was “virtually non-existent” when men and women did the same job at the same level in the UK, but it sets in and becomes pronounced in senior and executive arenas.