Research carried out by the Chartered Management Institute (CMI) has revealed that the gender pay gap for female managers in the UK has 'widened'.
The data, which was collected by surveying more than 118,000 employees across 423 UK organisations, suggested that female managers now earn almost £12,000 less per year than male managers.
The gender pay gap currently stands at 26.8% for individuals in managerial positions – a rise when compared to 2016's pay gap of 23.1%.
Under new government rules, from 5 April 2017 businesses with more than 250 employees are required to publish their gender pay gap figures. Firms have until April 2018 to do so.
However, so far only 77 of the 7,850 affected employers have published their pay gap data, the CMI found.
Commenting on the issue, Ann Francke, Chief Executive of the CMI, said: 'Our data shows we need the government's gender pay gap reporting regulations more than ever before. Yet, less than 1% of companies have reported so far.
'Time for more companies to step up and put plans in place to fix this issue. It's essential if UK companies are to survive and thrive in the post-Brexit world.'