Don’t be Mean, find the Median. Take the hassle out of calculating your Gender Pay Gap.
By now, you will have heard a lot about the Gender Pay gap, (currently standing at an average of 13.9%) but what impact does this really have on your business?
Legislation requires all organisations to publish their Gender Pay Gap. However, the data gathering and analysis doesn’t have to be a headache for your organisation.
Deep research into the legislation has given Claremont a real understanding of what calculations are needed to meet the government’s requirements.
What are you required to measure?
Organisations should calculate the gender pay gap using the mean and median as they are both useful indicators of inequalities in pay and due to their importance, it is crucial to understand how to calculate them properly.
Oracle’s recent patch provides a simple extract based on two balances, the Ordinary Pay Balance and the Bonus Pay Balance alongside a small selection of assignment and person details. However, none of the statutory Gender Pay calculations are performed and the report requires significant manual intervention in order to perform the legislative requirement.
Calculating the Gender Pay gap with Claremont
If the seeded solution doesn’t meet client requirements, we will look to augment or replace it with the Claremont Gender Pay report that has already been developed with a number of our clients.
This B.I. publisher report provides an excel output containing the source data and the required calculations to meet and exceed legislative requirements. It is extendable, enabling clients to go above and beyond based on additional requirements including Grade, Location, Age etc.
This fully configurable and flexible report is an easy to use mechanism for your organisation.
Gender Pay reporting solution
So, why use valuable IT resources when Claremont’s fully configurable report can do the heavy lifting for you?
- Saves your team time and allows the company to focus on making meaningful change rather than gathering data
- Is built by experts who understand exactly what real calculations are needed to meet the government’s requirements
- Is a bespoke out of the box solution, saving valuable IT resources
- Produces an output that is fully configurable and provides the necessary flexibility to meet legislative requirements irrespective of your payroll configuration
- Offers an extendable solution enabling organisations to go above and beyond the minimum required level
Want to know more?
Join us for our Webinar Thursday, 21st September, 11.00am. Sign up here.
Alternatively, if you have any questions please get in touch.