The aim of this report is to communicate our overall Gender Pay Gap figures and how we intend to address any gender pay gap, as a result of this analysis.
This report complies with the 2017 Government Regulations that stipulate companies in England, Scotland and Wales with 250 or more employees on the snapshot date of 05 April 2020, are required to carry out mandatory gender pay gap reporting.
There are six calculations that show the difference between the average earnings of men and women in our organisation.
A positive percentage figure means women typically have lower pay or bonuses than employees who are men and a negative percentage figure means men typically have lower pay or bonuses than employees who are women.
The UK average gender pay gap according to the Office for National Statistics is currently 15.5%. The pay gap figure at the snapshot date 05 April 2020 is 6.4%, which is 9.1% lower than the UK average. The mean pay gap is 15.6% in favour of men. Both the median and mean pay gap figures have reduced since the 2019 report which highlights a positive step in addressing the gender pay gap.
The median bonus pay gap stands at -5.9%, meaning women earn £1.06 for every £1 that men earn when comparing median bonus pay. The mean bonus gap is 18.7% in favour of men, driven largely by the proportion of commission earning roles being occupied by men in 2019/20.
Even though the median gender pay gap is significantly below the UK average figure, there is still work to be done to reduce this gap further.
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