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News

Gender Pay Gap Report 2023

This is our Gender Pay Gap Report for the snapshot date of 5th April 2023.

Gender pay gap is the difference between the average pay of men and women. As a Company with more than 250 employees, we fall within the requirements stipulated by the Gender Pay Gap reporting regulations. All figures have been calculated using the standard methodologies used in the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Our Gender Pay Gap Numbers

Chart 1: The mean and median Hourly Rate Pay

Chart 1 shows that our mean gender pay gap is 7.27% and our median gender pay gap is 1.97%. Both of which are significant improvements on2022, as you can see from the table.

 

Table 1: Differences in Mean & Median Bonus Pay

Table 1 shows that our mean bonus pay gap is 51.64% and our median gender bonus gap is 0%.

The charts above show our workforce divided into four equal sized groups (quartiles) based on hourly pay rate. The lower quartile is the lowest paid group, the upper quartile the highest paid group.

Our Gender Split

Why do we have a Gender Pay Gap?

Legally, men and women must receive equal pay for

·       the same or broadly similar work;

·       work rated as equivalent under a job evaluation scheme; or

·       work of equal value.

We are committed to equal opportunities and equal treatment for all employees ,regardless of sex, race, religion or belief, age, marriage or civil partnership, pregnancy/maternity, sexual orientation, gender reassignment or disability.

We are pleased to see that our continued efforts to address our Gender Pay Gap are having the desired impact with a 9.17% reduction year on year.

We are confident that our gender pay gap is not because we pay men and women differently for the same or equivalent work.

We are pleased to see our gender split at 48.47% female and 51.53% male but can see that we have differences in pay in the lower and upper quartile’s.

Our mean bonus pay gap is 51.64% and our median bonus pay gap 0%. The mean gap is a20% improvement on 2022 and if we were to discount the former president who left the company just after this data cut this would reduce further to 6.59%which is a great improvement.

During2023, 72.19% of males and 56.34% of females received a bonus payment.  For some employees the bonus scheme provision is linked to salary, therefore based on the pay gap

findings a gap is inevitable. The previous most senior role in the business is male and as his bonus was based upon % of his salary and this has impacted the bonus gap significantly.

We can see that the changes to the bonus scheme that we implemented in 2021 are having a positive impact by maintaining the mean bonus gap of 0% and that the true mean bonus gap has reduced dramatically to 6.59%.

How we are continuing to strive for a better balance

·       We are continually reviewing our reward and compensation strategy and considering the alignment of bonus schemes, benchmarking and grading of roles to ensure a consistent approach to reward, irrespective of gender.  We have access to third party benchmarking data to support with this review exercise. 

·       Our gender split shows that we are continuing to attract an equal balance of males and females into our organisation. We are continually working on our career pathway and ensuring our internal promotion opportunities appeal to all our employees.

·       We recruited 4 year in industry students in 2023 to encourage interest in STEM roles, the gender split of these being, 2 males and 2 females which further demonstrates our gender split.

·       We have an established Flexible Working Policy to enable employees to balance their work and personal commitments.

·       We provide enhanced family friendly policies.

·       In 2024 we will provide recruitment training for all hiring manager to look for ways we can encourage more applications from female workers and improve short listing techniques to minimise the risk of bias.

·       We are working with employees to define our Diversity & Inclusion strategy.

·       We are committed to supporting STEM activities.

 

 I declare  this information is accurate and correct.

Ellen Wright,  Head of HR

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