It looks like there’s going to be more and more scrutiny on pay, and mandatory publication of pay data, from now on. Large employers are currently collecting their pay data in preparation for reporting their gender pay gaps from 30 April 2017 and this week Theresa May, preparing for her ‘coronation’ as Conservative leader and Prime Minister, has set out her plans for more major changes in relation to pay.
Speaking at her campaign press conference on 11 July, Theresa May unveiled her plans to make shareholder votes binding on executive remuneration and to oblige companies to publish data on the pay multiple between a company’s chief executive and the pay of their average worker.
This latter requirement appears to mirror the similar recent legislation in the USA which requires publically listed companies to publish the pay of their CEO and the average pay of their employees, to show the pay gap.
Pay & Reward support
In this increasingly fast-changing world, you can rely on Menzies Law to always be looking – and thinking – ahead for you in all aspects of employment legislation and related people management practice.
Building on the great success of our existing Gender Pay Gap Audit & Advice service, we at Menzies Law will very shortly launch a full Pay & Reward consultancy service.
Our new Pay & Reward consultancy service will be delivered in partnership with Jane Baalam, a leading pay consultant and a particular expert in equal pay assessments. We will be offering you the following support services:
More details of our Pay & Reward consultancy service will follow soon. In the meantime, we’re already open for business, so do feel free to get in touch to explore what we can do for you straight away, by contacting our Director, Luke Menzies, on email@example.com or 0117 325 0921.