Getting Ready for Pay Transparency in the EU

Stuart Hyland from Blick Rothenberg discusses the EU pay transparency directive and its implications for companies. The directive aims to address the gender pay gap by requiring employers to report on pay disparities and take corrective actions. The regulations cover employers of all sizes and include reporting on base salary, bonuses, variable pay, allowances, and benefits. Non-compliance can result in financial penalties, withdrawal of state-funded incentives, and exclusion from public sector contracts. Companies are advised to start preparing for the regulations, which will come into effect by June 2027. The conversation discusses the upcoming pay transparency regulations in the EU and the UK, which aim to address pay equity and equal pay for work of equal value. The speakers emphasize the importance of justifying pay differences based on objective criteria, such as performance track record and market premiums. They also highlight the need for employers to start preparing now, as the compliance process can be time-consuming and require significant changes to reward strategies and systems. The use of technology, such as analytics and modeling tools, is recommended to support the compliance journey and ongoing monitoring of pay equity. The conversation concludes with a discussion on the potential future focus on opportunity equity and the importance of creating a supportive environment for women returning to work after maternity leave.

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