Gender pay gap report 2023

There is a requirement for all private sector employers with more than 250 employees to publish their gender pay gap. The Gender Pay Gap Regulations, a provision of the Equality Act, came in to force on 1 October 2016.

The gender pay gap looks at both the mean (average) and median (middle) for the pay gap reporting. The mean is the difference between the average hourly pay, calculated by adding all the pay rates together and dividing them by the total number of employees. The median is the difference in hourly pay between the person paid at the mid-point if you were to line all employees from highest to lowest pay between each gender.

The gender pay gap statistics are calculated using basic pay on 5 April 2023. Bonus pay statistics are calculated from the 12 months leading to 5 April 2023.

Whilst the gender pay gap is the measure of the difference between the average earnings between male and female employees, it does not take into consideration equal pay. Equal pay is the legal obligation as an employer to give equal pay for equal work. Our pay gap is not a result of equal pay issues, instead it is due to a lower representation of women in senior roles and fewer men in junior roles.

Statistics

Mean  = the difference in mean pay of men and women
Median = the difference in median pay of the men and women

Mean bonus pay gap  = the difference in mean bonus pay
Median bonus pay gap = the difference in median bonus pay

Conclusion

Our vision is to be the partner and employer of choice, we do this by investing in our people. We have developed a Plan to reduce our gender pay gap by 7% and increase gender representation of females across the group from 23% to 30% by 2025.