1、1PwC|Mandatory UK Gender Pay Gap ReportingMandatory UK Gender Pay Gap ReportingUnderstanding diversity beyond gender in an evolving reporting landscapeYear 7 UK Gender Pay Gap Reporting 2023/24June 20242PwC|Mandatory UK Gender Pay Gap ReportingForewordAs we reflect on the seventh year of UK gender p

2、ay gap reporting,our analysis shows a decrease in the median of reported mean hourly pay gaps,from 12.2%in 2022/23 to 11.8%in 2023/24.Whilst it is encouraging to see the pay gap reducing each year,the rate of change remains modest.Our analysis suggests that gender pay parity remains out of sight and

3、 it is unlikely that a 21 year old entering the workforce today would see gender pay parity in their working lifetime.At the same time,the global Environmental,Social and Governance(ESG)reporting landscape is evolving rapidly.As part of social reporting,many organisations are increasing their focus

4、on pay fairness and transparency,as well as pay gap and diversity reporting(including beyond gender).In this context,it is now more important than ever for organisations to take a step back to fully understand the state of pay fairness and Diversity,Equity and Inclusion(DE&I)within their workforce.B

5、y truly understanding any DE&I barriers that exist within the workforce and embracing pay transparency,organisations can navigate the reporting landscape and use it as a way to shape their narrative,as opposed to letting it dictate it.10,408Companies disclosed their gender pay gap1.6%Reduction in th

6、e mean pay gap since 201711.8%Median of reported mean pay gapsKey gender pay trends in 2023/242PwC|Mandatory UK Gender Pay Gap Reporting3PwC|Mandatory UK Gender Pay Gap ReportingIntroductionThe gender pay gap has become a widely recognised measure of pay and gender representation within the UK since