Gender pay gap is the difference between the average pay of men and women across the UK Company. 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.
The data had to be collected on the 5th April 2019.
Our Gender Pay Gap Numbers
Chart 1 shows that males are paid, on average, an hourly rate which is 3.53% higher than females. This gap has reduced from last year by over 6.5%.
The median hourly rate gap is higher, with males being paid an hourly median rate 15.45% higher than females. This figure has reduced since last year by 0.68%.
The reduction in these figures reflects the work we are beginning to do in order to benchmark and grade all roles to ensure a consistent approach to reward, irrespective of gender.
However, it should be noted that the reduction in the Pay Gap may partly be attributed to 2018 bonus payments being made in April 2019, whereas the 2017 bonus payments were made in February 2018, therefore not captured in the April 2018 Gender Pay Gap Report.
In addition, one female employee exercised her Share Options in April 2019, further impacting these figures.
|2019 Bonus Pay|
The differences in both mean and median bonus pay has decreased since last year. We are consistent in providing the same terms and conditions for all our UK employees, and we reward performance-related pay irrespective of whether the employee is male or female.
Throughout 2019, 92.45% of all females received a bonus payment, and 89.07% of males received a bonus payment.
Employees who did not receive a bonus were primarily new starters ineligible for the scheme, the majority of whom are male.
Although the mean shows -30.5%, this is in fact a positive figure, as it shows that the average bonus payment is higher for females than for males.
However, it should be noted that due to the timing of 2018 & 2019 bonus payments, a number of our senior male managers did not receive a bonus during the reference period, and some employees received two bonus payments in the reference period. This may distort these figures slightly.
Chart 3: Quartile Pay
These figures are achieved by splitting the workforce into 4 pay bands, called quartiles.
The charts show the proportion of female and male employees who fall into each of the quartile pay bands.
The quartile data has remained fairly constant since last year.
In the UK in general, more males hold Manufacturing and Engineering roles.
The mean hourly rate pay gap has reduced year on year.
The median hourly rate pay gap increased from 2017 to 2018. This increase is due to the business transfer of PANalytical Ltd to Malvern Instruments. In addition, restructuring and external recruitment at Senior Management level predominately involved males which resulted in the median pay gap widening. The 2019 results show the gap is beginning to close again.
How we are continuing to achieve a better balance
- Many of our roles are in Engineering and Manufacturing which are historically male-dominated, and this is reflected in the fact that almost 75% of our employees are male. However, we are committed to further reduce our Gender Pay Gap and we have a number of initiatives in place, namely;
- We are corporate members of the Women’s Engineering Society (WES), and we are able to offer free membership for up to 15 female employees.
- We are STEM Ambassadors with an active group who volunteer their time, inside and outside of work, to promote STEM subjects to young learners at careers fairs and other events.
- We operate part-time working and flexitime, and we have an established Flexible Working Policy applicable to all employees, to enable employees to balance their work and personal commitments. Going forward we will be developing a home-working policy to further enhance our employees’ work-life balance.
- Our Global Recruitment Manager is leading a review of all our recruitment documentation to ensure there is no risk of unconscious bias.
- Our Equal Opportunities policy sets out our commitment to the principle of equal pay for work of the same or similar nature or work of equal value. As part of our ongoing review of training provision we will roll out training to all employees to include equal opportunities and diversity, both at the start of employment and refresher training at regular intervals.
I declare this information is accurate and correct.
Financial Controller UK/Americas