GENDER PAY GAP REPORT 2017

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1 ASCENTIAL GENDER PAY GAP REPORT 2017

2 Introduction We are a company built around capability and people and we re committed to supporting each and everyone of them to be the best they can be. Ensuring that they feel supported by the business is crucial to building a strong, collegiate organisation. Creating an environment that allows our staff to be themselves, and in so doing, to thrive, is key to a strong business and providing the best service to our customers. We want to ensure we have a workforce that represents the diverse customers that we work with. In this document we re publishing our gender pay data as well as our approach to closing the gap and improving our gender balance, specifically at the top of our organization. Declaration: I confirm that the information and data provided in this report is accurate and in line with mandatory requirements. Duncan Painter CEO, Ascential 2

3 Closing the Gap At Ascential we are focused on building an inclusive culture that supports staff and nurtures authenticity. I m proud that we re number one in the Hampton-Alexander Review FTSE 250 and 350 rankings of gender diversity, but we know that we need to do more. We believe in giving everyone an opportunity to succeed at Ascential regardless of gender or any other characteristic. We re committed to doing more to support the development of female staff in the business, and I m confident that we ll see a positive impact on the data in years to come as a result of that work. I welcome the legislation and the action it s inspired from UK businesses: understanding that you have an imbalance is the first step towards true gender parity. The Gender Pay Reporting regulation will ensure that this year all UK-based companies with more than 250 employees will be reporting on their gender pay gap: allowing comparison of average pay between men and women to highlight imbalances. This is distinct to equal pay, which is about ensuring that men and women are paid the same amount for the same job. For us this is about managing talent right through to the top, and we have a strong learning and development structure to support our people and help them thrive in a dynamic, global business that never stops evolving. Ralph Tribe Chief People Officer, Ascential Natasha Christie-Miller CEO, Ascential Intelligence 3

4 The Measurements Gender Pay Gap reporting constitutes of 6 metrics: Mean Gender Pay Gap, Median Gender Pay Gap, Mean Bonus Pay Gap, Median Bonus Gap, Bonus Proportions and Quartile pay bands. This is different from equal pay, which is the difference in pay between men and women who carry out the same or similar jobs. Measurement metrics Mean Gender Pay Gap Median Gender Pay Gap The difference between the mean hourly rate of male full-pay employees and that of females full-pay employees The difference between the median hourly rate of male full-pay employees and that of females full-pay employees Mean Bonus Pay Gap Median Bonus Gap Bonus Proportions Quartile pay bands The difference between the mean bonus pay paid to male employees and that paid to female employees The difference between the mean bonus pay paid to male employees and that paid to female employees The proportions of male and female relevant employees who were paid bonus pay during the year The proportions of male and female employees in the lower, lower middle, upper middle and upper quartile pay bands 4

5 The Findings These charts show the median and mean gender pay and bonus gap, based on hourly rates of pay as at 5 April 2017, and bonuses paid in the year to 5 April 2017 for Ascential UK. We are required to publish Ascential Events separately due to the number of people that they employ. We aren t publishing results for employing entities of brands with less than 250 UK employees as we risk compromising our people s data. Ascential UK Mean Median Gender pay gap 15.3% 21.3% Gender bonus gap 54.1% 25.2% Proportion of male and female recieving bonus Ascential Events Mean Median Gender pay gap 23.1% 18.6% Gender bonus gap 42.4% 19.2% Proportion of male and female recieving bonus 80% 78% 80% 85% Percentage of male and female in each quartile band Female Male Lower Quartile 70% 30% Lower Middle Quartile 58% 42% Upper Middle Quartile 52% 48% Upper Quartile 52% 48% Percentage of male and female in each quartile band Female Male Lower Quartile 78% 22% Lower Middle Quartile 49% 51% Upper Middle Quartile 58% 42% Upper Quartile 56% 44% 5

6 Understanding the Data When we look at our gender pay gap, Ascential s UK mean differential is 15.3% and our median differential is 21.3% (as at 5 April 2017). Although our mean differential is better than the UK national average (17.4%*) there is clearly still work to be done. The gap we see in the data reported is caused largely by the fact that women hold a relatively smaller proportion of senior positions: 57% of our workforce are women, yet only 51% of Ascential s leaders are female. Because of these proportions, the average pay for women is lower than the average pay for men. Ascential Workforce 57% 43% Ascential Leaders 51% 49% Supporting women through our organization is very important to us, and we re proud to have strong female representation in our business. We aim to create a more even gender-based workforce by recruiting, encouraging, supporting and promoting more women, where appropriate, into our senior leadership group, ensuring that our senior leadership is representative of our workforce. * Source: ONS Survey, October

7 Nurturing our talent to readdress the balance In order to reduce this gender imbalance at the senior levels we are implementing a Women in Leadership programme in early The programme will be led by a senior steering group, chaired by Carla Buzasi, MD, WGSN with Executive Sponsorship from Duncan Painter, CEO, Ascential, Mandy Gradden, CFO, Ascential, and Natasha Christie- Miller, CEO, Ascential Intelligence. This group will be responsible for overseeing our programme of work, increasing awareness across the business and reporting progress directly to the Executive Board. We intend to develop a focused set of initiatives to drive change, likely including: 50:50 male/female shortlists for all senior hires even if that takes longer Redefining best candidate up-weighting relational experience which is critical for success in leadership roles (and an area that women tend to prioritise), but often not weighted accordingly in the recruitment assessment process Relentless promotion of flexible working arrangements, with a focus on how it is entirely possible in senior roles Open advertising of all senior roles to ensure equal access to vacancies Building an inclusive culture We are a global company and we are committed to building an inclusive culture where our diverse staff can be themselves and feel supported. We do this by: Supporting returning parents with a robust policy foundation: flexi working, maternity, paternity and paternal leave Ensuring diverse talent pipeline higher education partnerships, internships etc. Launching unconscious bias training globally With commitment to reduce the pay gap by investing in the Women in Leadership programme, we expect to see improvements to our gender pay gap numbers in

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