Date
16 Dec 2024Category
GENDER PAY GAP REPORTING 2024 & 2025
As we approach the end of 2024, organisations with at least 150 staff on their payroll will need to ensure they have published their Gender Pay Gap report.
The Gender Pay Gap Information Act 2021 requires organisations to report on their hourly gender pay gap across various metrics. Since 2022, companies with over 250 employees began reporting their gender pay gap. As of 2024, this requirement has been extended to organisations with 150 employees or more.
From 2025, the reporting requirement will be further extended to include organisations with 50 employees or more, bringing potentially hundreds more companies into the reporting net.
What is required?
The gender pay gap is the difference in the average hourly wage of men and women across the workforce.
Organisations must choose their “snapshot” date in June 2024. The reporting deadline is 6 months after that date, in December 2024. The reporting period is the 12-month period immediately preceding and including the snapshot date.
For example: An organisation chooses Friday 24 June 2024 as its snapshot date. Its reporting deadline is 24 December 2024, and its reporting period is 25 June 2023 to 24 June 2024.
Companies calculate the pay gap by comparing the average hourly earnings of male and female employees. Regulations have been published which set out the detail on how these calculations should be made.
How is the gender pay gap reported?
Each December, organisations must publish a report on their website detailing their hourly gender pay gap. The report should cover various metrics, providing transparency on pay disparities within the organisation.
There is no specified format for the gender pay gap information and relevant report to be published by the employer for the 2024 reporting cycle, other than that the gender pay gap information must be published on the employer’s website and be accessible to all its employees and to the public, for a period of at least three years beginning with the date of publication.
An online reporting system is currently in development which will consist of a central portal where all employer reports will be uploaded and can be accessed publicly.
How do Irish companies compare to national and EU averages?
Ireland’s latest available national gender pay gap of 9.6% (2022) according to the CSO. Irish companies are making progress but still have work to do. The most significant gender pay gaps are in the legal profession (35.1%) and the aviation sector (33.5%), followed by insurance (22.9%), construction (21%) and banking sectors (18.9%).
What does my organisation need to do?
The Regulations provide the legal basis for reporting, however the calculation can be complex. Contact us here at Azets Ireland for assistance with your organisation’s gender pay gap reporting.
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|
Susan Wylie |
Jennifer Kelly |
Anne Marie Fagan |
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Partner |
Director |
Payroll Manager |
