Anderson Anderson & Brown LLP (AAB), one of the UK’s leading independent firms of Chartered Accountants & Business Advisors, has announced the launch of a new service which will assist businesses in their gender pay gap reporting requirements, whilst also giving them valuable insights into their business and helping achieve compliance requirements.
The team at AAB have created a data analytics dashboard which, at a glance, visually shows the key facts and data around the gender pay gap. This negates the need to review tables of values and excel spreadsheets, reducing the time businesses need to spend sourcing information as the data is taken directly from any payroll system. The dashboard provides all required information in a quick, simple and meaningful style for key stakeholders.
Businesses have until 5 April 2018 to report their gender pay gap data for the period to 5 April 2017. The results must be published on the employers own website and a government site, bringing information publicly available to customers, existing employees and potential future recruits.
The legislative requirements look for more than just the figures, with an explanatory report to be provided as a backdrop to the numbers. The narrative should generally explain the reasons for the results and give details on the actions being taken to reduce or eliminate any gender pay gap.
Steven Fraser, Director at AAB commented “we are pleased to be launching this new service and that through the dashboard we can assist businesses to become proactive in addressing this new legislative requirement. We believe that although there are compliance requirements around the gender pay gap, changes like this also present an opportunity for businesses to address and overcome what could potentially be a significant challenge in some organisations.
Not only does our solution provide an instant view of pay gap data, it also gives the ability to interrogate and drill down into data to provide a real insight into the analytical results. The data can be reviewed in real time, allowing businesses to monitor their current gender pay gap and how that has changed across time. This powerful information means that the data produced by the tool can influence management decisions and policy.”