GENDER PAY GAP REPORT

Transcription

1 GENDER PAY GAP REPORT APRIL 2017

2 At Dennis we create brands that people want to work on and a culture that people want to work in. Our working environment is one where everyone is treated equally and has the same opportunities to develop in their career. We believe in job opportunities for everyone regardless of gender. We want to encourage a diverse workforce where our people can be themselves at work and as a company we are committed to addressing gender representation and supporting women in the workplace.

3 WHAT IS THE GENDER PAY GAP AND HOW IS IT CALCULATED? LOWEST PAID PERSON Our reported calculations make up 73% of our total workforce and include salaries at all levels within the employing entity of Dennis Publishing Ltd at the snapshot date of 5 April The whole Dennis Group includes the non-qualifying entities with less than 250 employees; companies such as The Week Ltd, Dennis Buyacar Limited, Evo Publications Ltd and Octane Media Ltd. HIGHEST PAID PERSON THE MEDIAN IS THIS PERSON In 2017, the Government introduced new regulations requiring all UK companies with 250 or more employees to report their gender pay gap information on an annual basis. The gap is calculated by adding the total earnings by gender into a single calculation to find an average per hour of pay for each gender the gap being the difference between the overall average male and overall average female pay. It is a snapshot based on relevant employees as at 5th April If all company employees were lined up in a female line and a male line, in order of pay from highest to lowest, the median gender pay gap compares the pay of the female in the middle of their line and the pay of the middle man. The mean gender pay gap shows the difference in the average hourly rate of pay between men and women in a company. This is different from equal pay, which is about being paid the same salary for carrying out the same or similar type of work. We are confident that our pay gender gap does not stem from paying men and women differently for the same or equivalent work. A gender pay gap is about gender imbalance; for example having more men than women in more senior roles. Across the UK economy as a whole, men are more likely than women to be in senior roles (especially very senior roles at the top of organisations), while women are more likely to work parttime or to take a break from work which in turn affects their career progression.

4 OUR RESULTS ON PAY OUR MEDIAN GENDER PAY GAP IS: -1.1% THE NATIONAL AVERAGE MEAN GAP IS +17.4% * THE NATIONAL AVERAGE MEDIAN GAP IS +18.4% * OUR MEAN GENDER PAY GAP IS: 19.7% We are delighted to see that our median gender pay gap is -1.1% which means that women in the middle of the company earn slightly more money than the middle male. This result also compares very favourably to the UK National Average of 18.4%* so we are pleased to say that our pay gap is almost 20% better than the national average. REASONS FOR MEAN HOURLY PAY GAP: The relatively high mean gender pay gap creates a somewhat confusing picture of our calculations. The skew in the figures is caused by two factors: A very high proportion of men in our topearning senior director-level positions, where average pay is highest. With only 15% of women occupying the top 20 senior positions across the company we are challenging ourselves to work towards greater female representation in these senior level roles. Different contractual terms in these senior positions relating to the timing of annual performance related bonus payments which fall in April rather than March when the majority of annual bonus payments are normally made. As the snapshot date fell in April we had to take into consideration these bonus payments in our calculations which inevitably skewed our results. Dennis Publishing Ltd: Difference between men & women MEDIAN MEAN GENDER PAY GAP -1.1% 19.7% OUR WORKFORCE GENDER BALANCE IS: Notes: FE 59% 41% This report gives the gender pay gap data as at 5 April We know that we cannot eliminate the gender pay gap completely whilst our most senior positions are held predominantly by men who understandably have such a significant impact on our mean gender pay gap calculation. We are however satisfied that this is not a pay issue, moreover it is an issue about representation, and although Dennis has historically had a dominance of male incumbents as senior directors we need to do more to change the profile of our senior leadership team. We re introducing a number of measures aimed at making sure that career progression is open to everyone, and that women in particular are empowered to reach their full potential. For total earnings we used a snapshot date of 5 April The relevant pay period was our April 2017 payroll. *Office for National Statistics 2017 report bulletins/annualsurveyofhoursandearnings/2017provisionaland2016revisedresults#gender-pay-differences The gender balance within the company at 59% (male) v 41% (female) is also a fair reflection of the media and publishing industry in which we operate.

5 OUR RESULTS BONUS PAY OUR RESULTS IN PAY S Dennis Publishing Ltd: Difference between men & women MEDIAN MEAN GENDER BONUS GAP 39% 51.5% The pay quartiles show that we have the largest number of men in the upper quartile. This analysis supports the fact that the under-representation of women in more senior, higher paid roles is a contributing factor to our mean gender pay gap. In the other quartiles, there is generally a fairer balance between the male and female split, although we recognise that in the second quartile (lower middle pay) there is an above average male to female ratio. There were 72 people in each quartile. While men and women are offered the same opportunities to receive bonus and commission payments, the median bonus gap is significantly larger than the pay gap because in more senior positions, which are more frequently held by men than women, bonus payments represent a greater proportion of overall remuneration. Our Advertising Sales division operates a separate commission scheme, linked to advertising revenue. The results show that more women than men received bonuses, but on average these were of a much lower value. Our challenge is still to work towards a greater representation of women in more senior roles within Dennis. Definitions: The Gender Bonus gap is the percentage difference (median and mean) in total bonus and commission payments received by men and women in the 12 months preceding the snapshot date of 5 April LOWER 56% 44% FE 62% 38% FE LOWER - MIDDLE In addition, because bonus rates are a based on a percentage of salary, our bonus gap is further increased by the presence of more men in the higher-paying upper quartile. PROPORTION OF MEN AND WOMEN RECEIVING A BONUS: Proportion receiving bonus is the percentage of men and women who received a bonus or commission payment in the 12 months preceding the snapshot date. FE 67.8% 52.3% UPPER - MIDDLE 53% 47% FE 65% 35% FE UPPER Notes: For the bonus pay gap calculation we used the 12 month period preceding the snapshot date Notes: Our Pay Quartiles shows the proportion of men and women in different pay bands, with the workforce divided into four equal parts (quartiles). Each quartile has 72 people. This includes Dennis Publishing Ltd only.

6 ACTIONS WE ARE TAKING We know that companies with a greater gender balance in their leadership teams are more successful, innovative and attractive places to work. Having recognised that we need to improve we have already started work on this in the following ways: Our inaugural leadership development programme entitled the Be Bold Leadership Academy (BBLA) launched in September 2017 with the aim to help our future leaders stand-out and take the steps they need to thrive in their careers. Out of the current cohort, 65% are female managers. We expect the programme to accelerate female leaders and succession planning for high performing female talent within Dennis. Talent Acquisition best practice. We will be re-launching our talent strategy which will include the positive and inclusive behaviours we expect from hiring managers when we recruit new talent into the company; for example we will start to encourage more gender balanced shortlists. We will ensure best practice in all recruitment, selection and interviewing, working to attract more female talent into the company through apprenticeships and our graduate programmes. Equal Opportunity for all. We are committed to ensuring everyone has equal opportunities to achieve their potential. We are absolutely confident that we reward and recognise our talent on merit and will commit to look at our overall people policies and processes to ensure that we operate in an inclusive way. An important element of this is ensuring that our pay and opportunities are based solely on skill, behaviour and contribution to the business and not on gender or any other factor. Continuing to offer and promote our flexible working practices and environment. We will consider offering job roles across a range of options such as part-time working, job shares and alternative working hours which will include regular working from home as part of our established agile working policy. We will also continue to promote our Shared Parental leave policies including our enhanced company maternity pay for women with over a year s service. Unconscious Bias. We have provided unconscious bias training to our senior management team. This training was specifically designed to help better understand the unconscious bias in how we conduct ourselves, what we say and how we work so we can make better decisions. This will be rolled out further across the company this year. Learning & development. We recognise that our staff don t all want the same things from their careers, however, we aim to provide everyone with opportunities to be the best they can be and to progress, whether to more senior roles, or other roles in the company. To support this, we will continue to encourage staff to benefit from the variety of training opportunities open to everyone as well as training our managers to help them navigate this process. We confirm that the information in this report is accurate and is prepared in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations Signed: James Tye Chief Executive Alison Hunter Group HR Director