Gender pay gap has halved in the last 20 years

(2 minutes to read)

Since the introduction of gender pay reporting, the gap is continuing to close, however, there’s still a way to go until there is true equality.

Latest data from the Association of Professional Staffing Companies (APSCo) shows that the current gender pay gap is only half of what it was 20 years ago.

According to a 1999 study by the Office for National Statistics (ONS), the gender pay gap for that year was 19%. Although this figure sounds high compared to today’s standards, at the time it was celebrated as a major improvement, as women’s pay was just 63% of men’s in 1970, when the national minimum wage was introduced.

Two decades later, however, the current gender pay gap is still a major issue and has decreased to just less than 50%.

The data collected from this year’s reporting (which is mandatory for companies with more than 250 employees) revealed that the current gender pay gap is 9.6%. ONS, however, found that almost a third of companies are still way below the national average, with a gap similar to the figure recorded in 1999 (17.9%).

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Ann Swain, Chief Executive of APSCo, commented, “Since the introduction of gender pay reporting, the gap is continuing to close, which is fantastic. However, we still have a long way to go until there is true parity. To begin seeing significant change, businesses must prioritise creating diversity in their teams and promote opportunities for women at all levels, so that their talent pipelines do not leak female talent.”

“Over the past 20 years I have witnessed growing discourse on the subject, and have seen companies from traditionally male-dominated sectors boost initiatives to encourage female participation, such as returnships. However, this alone is not enough to create equal pay.”

Ann added, “The recruitment profession has not only a social responsibility, but also a real opportunity, to create an even playing field through encouraging firms to boost diversity and inclusion, and to help create solutions for an equal workplace for all. We must be advocates for fair recruitment practices to achieve workforce diversity across all sectors, and ensure female professionals have every opportunity to fulfil their full potential.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, ContractorUmbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of ContractorUmbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, ContractorUmbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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