Data insights business GenAnalytics has partnered with Incremental Group to create a software system to support businesses with gender pay gap reporting.
Its new service will be offered to approximately 12,000 UK businesses employing over 250 staff and are required to annually publish information on the pay differences between men and women in their business.
Research shows that around 8 out of 10 businesses still pay men more, with women earning up to 26% less in the finance market and 24% less in construction.
Jane Gotts, the director of GenAnalytics explains that their goal is to generate greater insights and information to businesses concerning diversity and inclusion. Gotts highlights that gender pay gap analysis and employee analytics are essential to their business. Gotts highlights that their new tool will allow them to support businesses by providing a more efficient and detailed analysis of the gender pay gap data and allow them to identify areas to improve that impact gender pay gap performance.
GenAnalytics believe their system will support businesses in closing the gender pay gap over time. Scottish based business Incremental Group has been working with GenAnalytics to develop the software. Andy McGoldrick, the technology director of GenAnalytics explains that Incremental Group is dedicated to delivering greater diversity and inclusion within the technology market. McGoldrick states that working with GenAnalytics will support improved gender diversity and inclusion, all powered through technology and data.
Claire Partridge, an innovation specialist at Scottish Enterprise explains that the new product will enable improved equality and diversity within the workforce. Partridge states that are happy to support GenAnalytics and believe that by having a greater gender balance results in better company performance.