However, an encouraging number of bosses in the survey did agree with Dinenage on this, perceiving that government initiatives could end of the gender pay gap. 49% felt back-to-work schemes can help to even the gender pay gap.

47% said recruitment schemes like returnships – a form of work experience which help former senior staff who’ve taken a career break return to a high level role - would help close the gap.

On top this, 57% felt leveling pay would help close the gap.

Pearce commented: “The government’s funding for returnships is a step in the right direction, yet it is up to individual businesses to develop them if the pay gap is to be reduced for good.

“By addressing their pay gap, organisations will not just have good figures to report on paper, but the commercial benefits of a diverse and fairly remunerated workforce, improving performance, productivity and profitability.”

Beyond the obvious benefits of equalising pay on women’s career trajectory and morale, eliminating the gap would give the economy a huge boost. Dinenage said it could add £150 billion to our annual GDP by 2025.

“Helping women to reach their full potential isn’t only the right thing to do, it makes good economic sense and is good for British business", she said.

Images: iStock.

A third of bosses don't think the gender pay gap is “a business issue”