Female candidates are likely to earn up to £300,000 less than men over the duration of their working lives, according to a recent study.
The report was commissioned by recruitment firm Robert Half. It revealed that there was a gender pay gap of £5,732, or 24%, in average full-time annual salaries between the genders. According to the recruitment agency, over a career of 52 years that translates into a lifetime wage shortfall of £298,064 for female employees, compared to male.
Robert Half also found that male jobseekers can expect a faster salary growth. They can expect a salary growth at 1.6% compared to just 1.4% for women.
Katy Tanner is a Director at Robert Half UK. She explained in an interview with the Guardian what these figures mean for the looming UK skills shortage.
“As in-demand candidates continue to be in the driver’s seat, employers need to offer competitive remuneration and benefits packages above industry averages,” she said.
“International Women’s Day provides a platform to highlight the importance for rewarding all employees fairly on the basis of their contribution to the organisation, rather than their gender or indeed any other point of difference.”
This news comes just in time for International Women’s Day tomorrow, whereby employers, recruiters and staff from a variety of firms will be campaigning for gender parity.
The discussion about the gender pay gap was recently highlighted when the Government revealed their plans to force recruitment agencies with more than 250 employees to disclose their gender pay gap. Whilst some recruiters thought it was a fantastic idea, others believed that disclosing the gender pay gap would create a talent crisis in the sector.
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