3 April 2018
As part of the Equality Act 2010, the UK government now requires all companies with more than 250 employees to report their Gender Pay Gap on an annual basis.
The reporting must include mean and median figures for differences in hourly pay and bonus pay, calculated using salaries and bonus payments. It is important to note that this is different from equal pay, which looks at salaries for jobs with the same or similar responsibilities, and this report is, therefore, not a comparison of remuneration for comparable roles.
We have 2 legal entities that meet the criteria as reported on the government website. Results for each of these can be found below, alongside further figures that give an overview of our entire business.
Like many organisations in our peer group, the gap we are reporting can be attributed to an imbalance of male and female colleagues at different levels. This is particularly the case in careers underpinned by STEM subjects at school or university.
Having struggled to attract and retain female colleagues in these areas for some time, we have joined an industry push to turn this around. Taking part in school partnerships has been a key part of this, as has introducing training on unconscious bias into our graduate programme, an initiative that we will now look to extend to all hiring managers.
In a further move to address the gender pay gap, we are also supporting females with ambition to become leaders through membership to the Women Leadership Association (WLA). This not only gives access to useful resources and networking, but also includes a number of our females becoming part of their mentoring programme.
Going forward, we are committed to finding positive and proactive ways to address the gap, as part of a wider push to improve diversity in our business. We are in no doubt of the business benefits that a more diverse workforce will bring to our clients, our partners, and all our colleagues.