CII encourages sector to get to grips with the gender gap
The CII is encouraging firms in the insurance and financial advice sectors to start disclosing their gender pay information ahead of next April’s deadline, regardless of whether or not they are required to.
In issuing the ‘call to action’, the CII is leading by example by doing so itself – five months in advance – despite the fact it is exempt by being under the 250-employee threshold.
The move coincides with the publication of a specially-commissioned briefing paper, Mind The Gap, which outlines the key factors and causes of the gender pay gap, as well as what can proactively be done to bring about better balance.
The CII’s mean hourly pay gap is currently 28%, compared to a sector average of 47% and national average of 14%. The median hourly rate gap is 18%, compared to a sector average of 37% and national average of 10%.
“The data that firms are sharing between now and April 2018 is only the start,” said Sian Fisher, chief executive. “Our stakeholders want to see evidence of what we are doing individually and collectively to reduce the gap and they will expect to see significant improvement in future years.”
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