Gapsquare is moving into the Irish market at an opportune time. Ireland has made it mandatory for large companies to report their gender pay gaps.
A UK-based company called Gapsquare is set to launch its software in Ireland to help Irish companies comply with legal requirements to report and address their gender pay gaps.
The Gender Pay Gap Information Act 2021 stipulates that businesses with more than 250 employees must report their gender pay gap data before the end of 2022. They are also required to include their plans on addressing any gender-based pay gaps.
Gapsquare is hoping to take advantage of the fact companies may need tools to help collate the data. The Bristol-headquartered company is launching its ‘Gapsquare Comply Ireland’ software tool specially for the Irish market.
The software is designed to empower businesses to understand, monitor and close pay gaps. It also aims to help companies become fully compliant with the legal reporting requirements in the short term. Employers can use the software to create a data-led action plan to target the right pay gap areas in their industry.
The businesses with 250 or more employees are pinned to a 31 December deadline for reporting their gender pay gap data. Over the next few years, smaller companies will also be required to report on their data.
Since its inception, Gapsquare has helped more than 80 organisations across the UK to improve and narrow their gender gaps, such as Wieden + Kennedy, Condé Nast and Accenture. Its flagship software is called FairPay Pro.
The company is part of XpertHR, a UK-based platform that specialises in legal compliance, good practice and data analysis tools for HR teams.
Commenting on Ireland’s gender pay gap, which stands at 14.4pc, Gapsquare CEO, Zara Nanu, said there was “still room to improve.” Ireland ranks ninth in the world, according to the World Economic Forum’s Global Gender Gap report 2022. It’s ahead of Germany but below Namibia.
“The new gender pay gap requirements are an important step forward to build an economically fair future, for all,” added Nanu.
She said the new legislation would serve as a “best-in-class example to other nations wanting to improve gender equality.”
For employers wondering about what they need to know about gender pay gap reporting ahead of the end of December, the team at William Fry has put together a comprehensive explainer on it. It addresses questions such as what happens if employers don’t report and what kind of information needs to be reported.
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Source by www.siliconrepublic.com
