Summary
This report outlines the current state of pay equity among UK employers, detailing various statistics and trends regarding pay equity strategies. It states that a significant portion, one third, of UK companies lack a pay equity strategy, while 65% of those with a strategy believe it should be re-evaluated due to challenges in attracting talent. The report also highlights communication priorities; most UK employers have communicated their gender pay gaps, with 91% supporting legislation for pay transparency. The use of technology in managing compensation strategies is discussed, with high percentages of employers utilizing HR technology and AI to address pay equity issues. The document presents data on the understanding employees have of their total compensation and pay equity across demographics, indicating that while confidence in total compensation awareness is high, there are gaps in understanding related to pay equity and salary ranges. The findings emphasize the need for proactive measures in pay equity management.
