Spain Isn't Having `MeToo' Moment on Gender Pay Gap Transparency

(Bloomberg) -- Governments and investors around the world may be calling for greater transparency to tackle the gender pay gap, but the business community in Spain isn't so sure.

According to a new survey by auditing firm Grant Thornton, 53 percent of executives think auditing and publishing information on salaries by gender is an “excessive” measure that could have a negative impact on policies and hiring. Only 19 percent said they found the measure effective.

As part of a global movement to reduce pay inequality among male and female staff, more companies are releasing internal information on wages -- often showing big disparities. The conservative government of Mariano Rajoy is now also advocating pay audits, although it has ruled out taking legislative action on pay.

For more on the gender pay gap in the U.K., click here

The study also shows the majority of executives surveyed are against introducing gender quotas to boost female participation at work, with 79 percent saying they do not endorse the idea. Ten percent said they are necessary but difficult to put into practice.

Even so, 58 percent of participants said businesses and the government should work more closely to tackle gender inequality more efficiently, while only 29 percent described it as an internal issue for companies to deal with themselves.

To contact the reporter on this story: Maria Tadeo in Madrid at mtadeo@bloomberg.net.

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Lucy Meakin, Kevin Costelloe

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