The Institute of Directors (IoD) is calling for mandatory reporting to help close the pay gap suffered by disabled workers in Scotland, which is the highest in all of the UK.
A series of recommendations published today includes the introduction of mandatory ethnicity pay gap and disability workforce reporting for companies with 250 or more employees.
Following seven months of investigation, an IoD commission led by Lord Shinkwin found a significant need for more data to tackle the Scottish disability pay gap and enable effective mitigating action. Latest figures from the Office for National Statistics (ONS) found that pay for those with disabilities is on average 18.5 per cent lower in Scotland.
“Scottish Leaders are ready and willing to take action on diversity and inclusion, but the recurring concern I hear from members is the challenge of implementing change," said Catherine McWilliam, head of the IoD Scotland.
“The Shinkwin Commission has provided a series of recommendations and practical steps for government and business, which is a big step in the right direction in overcoming the challenge. By gathering data on the Scottish workforce, cross sector leaders will have the tools they need to make effective changes to mitigate the diversity and inclusion gap.”
According to the ONS, disabled employees' median pay in Scotland at £11.54 per hour in 2021 was 18.5% less than non-disabled employees (£14.16 per hour). This compares to a 14.1% gap for those living in England, 12.3% in Northern Ireland, and 11.6% in Wales.
The policy paper - The Future of Business: harnessing diverse talent for success - includes other recommendations on creating inclusive workspaces. Among these are the introduction of public reporting on the representation of LGBT and disabled individuals on the boards of FTSE 350 companies, and the right to request flexible working from day one of employment.
The IoD is also calling for the publication of up-to-date guidance for businesses that is tailored to organisations of different sizes and includes information on how to implement fair AI systems for recruitment.
£150m takeover bid for West of Shetland oil firm amid crude price surge
A West of Shetland-focused oil pioneer that faced huge challenges amid the pandemic is in the sights of a bidder as the surge in crude prices fuels interest in North Sea assets.
Hurricane Energy said it had received a takeover offer from a bidder which put a valuation of more than £150 million on the firm. It did not name the bidder concerned.
Calls for higher windfall tax intensify as oil giant BP posts huge profits
The pressure on Prime Minister Rishi Sunak to increase the windfall tax on the extraordinary profits currently being made by oil and gas companies has intensified after BP unveiled a further round of hefty profits.
As UK consumers face the prospect of support for household fuel bills being cut off from next spring, instead of the two years pledged by the Truss administration in September, BP continued to reap the benefits of the surge in commodity prices that has followed Russia’s war on Ukraine.
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