GenAnalytics Ltd, a data insights and analytics consultancy, and Gapsquare, a payroll data specialist and fair pay software company, today announced the launch of a collaborative package designed to help companies easily, efficiently and accurately comply with UK gender pay gap reporting legislation.
Almost 12,000 companies in the UK, who employ more than 250 staff, must publish their gender pay gap figures on an annual basis i.e. the difference between male and female earnings across the organisation.
With the third year of gender pay gap reporting currently underway, the need for companies to continue to differentiate their narratives and action plans from competitors is at the forefront of C-Suite agendas. Gender pay analytics can be complicated and time consuming and with 1 in 6 employers reporting incorrect data in 2018, the pressure is on to get pay gap data right.
The Fast Track package, drawing on the expertise of both GenAnalytics and Gapsquare will streamline companies’ reporting process and keep it simple. The package includes:
- Fast tracked data analytics ensuring compliance with gender pay gap reporting legislation (including access to the Gapsquare software)
- Or Verify existing gender pay gap data to ensure accuracy prior to reporting
- A tailored gender pay gap narrative action plan
- A fully designed report that can be uploaded to the UK Government’s gender pay gap portal
Jane Gotts, Director, GenAnalytics said “Our vision is to deliver greater insight and information to our clients around Gender Pay Gap analysis. We are delighted to be working with Gapsquare to offer this service to companies across the UK. We both share the same vision to support companies to understand and ultimately close their gender pay gap as we know that diverse companies perform better than their competitors.
Dr. Zara Nanu, CEO and CoFounder, Gapsquare, said: “This exciting collaboration with GenAnalytics comes just in time for the UK reporting deadline. Our data expertise paired with GenAnalytics’ insightful narrative writing makes an easy, accessible fix for companies hoping not only to comply with legislation, but to go a step further and promote a transparent, strategic and vital plan for change.”
GenAnalytics is a research and insights consultancy based in Glasgow and is focused on the application of data and analytics to drive business performance through greater diversity and inclusion in the workplace.
Gapsquare’s software helps companies analyse their HR and payroll data to understand where and why they have pay gaps, using machine learning, pattern tracking and years of D&I experience to help build a fairer world of work.