The ONS revealed that the UK has the fifth largest gender pay gap in Europe, situated behind countries such as Austria, Czech Republic, Estonia and Germany. Even though work has been done to close the gender gap, the average woman in the workplace still earns 9.1% less than the average man, according to Instant Offices.

However, this number depends on the seniority of the role and occupations. The highest gap seen for any profession is at 24.8% among skilled trade occupations, while the gender gap in the construction and building trades sector stands at 45.4%.

As a result of a new government legislation that came into effect in April 2017, all UK companies and public sector organisations with more than 250 employees are required to publicly report on their gender pay gap. At the time of writing, only 3000 of the estimated 9000 companies have come forward and released their numbers, while there have been no reports from the financial services sector.

According to the World Economic Forum, it could take 170 years to completely close the gender pay gap on a global level. However, there are a few things firms could look into to help narrow it:

1. Incentivise paternity leave so that mothers can return to work sooner, work more hours and earn more money, while allowing fathers more bonding with their newborns.
2. Subsidise childcare so that women on low wages won’t find going back to work a difficult and financially draining decision. Some businesses have been stepping in to provide female staff with childcare services, which saw reductions in employee turnover, increased productivity, and improved quality in job applicants.
3. Introduce remote working, which is becoming more acceptable and accessible to millennial workers. While flexible working conditions enable mothers to juggle work, childcare, and family commitments, it also allows more time for essential tasks.
4. Be transparent about pay, research market rates for a role and offer a fair salary for the job you are hiring for.
5. Ensure that promotions and rewards are fair and are not in favour of male employees. Everyone should have a fair chance of receiving a promotion, reward or salary increase.
6. Give female employees a raise, which is the most pain-free way of eliminating the gender pay gap. Not only are employees enjoying equal pay, but, as more companies are being scrutinised and being forced to publish their gender pay gap reports, it provides the best strategy for businesses to continue operations with minimal disruptions and additional pressure.