Overview of Results
For Gender Pay, we’ve seen a slight decrease of 1.3 percentage points in our Mean Pay Gap from the 2021 calculation of 11% to 9.7% in 2022.
Our ongoing commitment to implementing a robust diversity and inclusion strategy means we have a solid understanding of the underlying business drivers behind this and the measures we can continue to drive forward to ensure we make positive progress.
This year, as part of our commitment to gender equality, we enhanced the support we provide to our colleagues to work flexibly and manage their work-life balance.
Following on from the launch of our Flexible by Choice approach in 2021, we’ve introduced further improvements to our inclusive, family-friendly policies, including enhancements to paternity leave, shared parental leave, parental bereavement leave, and support for fertility treatment.
Our mean and median gender pay gap figures are based on hourly pay.
The mean gender pay gap figure shows the difference between the average hourly pay of men and the average hourly pay of women.
The median figure is the difference between the middle man and middle woman in a list of hourly pay ordered from highest to lowest.
Our mean gender pay gap for 2022 is 9.7%
Our median gender pay gap for 2022 is 14.3%
Our 2021 gender gap report included a ‘Thank you’ payment we made in April 2021. In April 2022, we made £900 cost of living payments to the majority of our colleagues. These have had a positive impact on the numbers reported in our gender and ethnicity pay gap reporting.
For Ethnicity Pay, we’ve seen a decrease of 1.1 percentage points in our Mean Pay Gap from the 2021 reporting of -6.4% to -5.3% in 2022.
Our ethnicity pay gaps remain similar year-on-year, and at this time remain positive to those from minority ethnic backgrounds[1].
It should be noted that our ethnicity pay gap data is based on 72% of our colleagues who have voluntarily shared their ethnicity information, in contrast to our gender pay gap which is based on almost all colleagues’ data.
We’ll continue to encourage more of our colleagues to share this information to improve our understanding of race and ethnicity in our workplace and future reporting.
We’ve seen increases in the proportion of minority ethnic colleagues in all pay quartiles except the lowest pay quartile. The ethnicity pay gap data excludes our partners (Full Equity Members and Fixed Share Members), consistent with statutory gender pay gap reporting.
While it’s positive to see increases in the proportion of minority ethnic colleagues, we recognise that we need to do more to understand the make-up of our workforce by ethnicity and to increase the overall proportion of colleagues from minority ethnic backgrounds, including at partner level.
Our mean ethnicity pay gap for 2021 was
Our mean ethnicity pay gap for 2022 is
[1] For the purposes of this report, as in previous years, we’ve compared all colleagues who’ve selected a minority ethnic background (including White minority ethnic groups), with those who’ve selected ‘White British’. We’re using the term ‘minority ethnic’ following consultation with IM Respect, our ethnicity, culture, and faith network.