SSP S GENDER PAY GAP REPORT

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1 About this document The draft Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, requires all UK employers with more than 250 staff to publish their first gender pay gap report by 05 April In accordance with this Act, the following report details SSP s gender pay gap figures for staff on the snapshot date of 05 April If you have any queries about the contents of this document, please contact Jemma McKenzie, HR Director, on jemma.mckenzie@ssp-worldwide.com

2 WHAT IS A GENDER PAY GAP? A gender pay gap is the difference between the total hourly earnings of the men and women in an organisation. 1 This should not be confused with the term equal pay which refers to the difference in pay between a men and a women doing the same job. SSP is committed to equal pay and already ensures that men and women performing the same roles are paid within the same salary bands. WHY IS THE GOVERNMENT INTERESTED IN THE GENDER PAY GAP? The UK s current gender pay gap stands at 18%. The government is seeking to reduce this gap in order to increase both equality, and economic productivity. 2 2

3 OUR COMMITMENT: Stephen Lathrope Chief Executive Officer SSP is committed to ensuring that all members of staff are treated and rewarded fairly, irrespective of their gender, or any other characteristic. We already ensure that we offer equal pay for work of equal value, so that we do not discriminate unlawfully against any member of the SSP team. However, we have identified that SSP has a mean gender pay gap of 19%. This is largely due to the fact that we currently have more men than women in senior roles in the business. Although our figure is typical of a UK business, and below that experienced in the Financial Services sector (31%), 3 I am committed to investigating and reducing it. Here s what we re doing already: Parental support - we offer enhanced family-friendly policies, including flexible working, and have recently launched an enhanced maternity policy. Awareness - We have recently introduced a diversity training course for all employees, which will become mandatory as part of our corporate induction programme. In addition, I personally sponsor SSP s Diversity Forum, which has an active work stream focused on women in business. Personal development In 2017 we launched a new mentoring scheme, with a key focus on women in business. Flexible working environment Our recent refurbishment programme has created a much improved working environment that supports flexible working, including features such as touchdown areas for people who want to have a change of scene and a quiet place away from their desk to focus. Opening doors We have been taking on apprentices since 2016 and are currently reviewing and improving our offering - we keep a close eye on ensuring that this is attractive to men and women alike. Feedback - we conduct a regular employee engagement survey and use the feedback to drive positive change across our business. A closer look While we are confident that our data shows that men and women receive equal pay (i.e. are paid within the same pay bands for performing the same roles), the gender pay gap figures in this report reveal that SSP could benefit from attracting and promoting more women to senior roles. As such, I remain committed to supporting the pre-existing programme of work outlined above, and also to investing in a brand new programme of activities that are a direct result of the findings of this report. For more details of our future plans to support equality at SSP, please see page 5. 3

4 OUR RESULTS: 19% 20% 42% 33% The mean gender pay gap The median gender pay gap The mean bonus gap The median bonus gap The proportion of men and women receiving a bonus payment 41.4% 41.2% The proportion of men and women in each of the four pay quartiles 4 Lower Lower Middle 59% 41% 66% 34% Upper Middle Upper 71% 29% 82% 18% 4

5 OUR ACTION PLAN: Jemma McKenzie HR Director This report highlights that there are a number of areas where improvements can be made to ensure we comply with this Act and continue to strive for equality across SSP. We believe that continuing to improve the diversity of our teams across SSP means we will be able to attract and retain the best talent in the industry, delivering higher performance to our customers. In addition to reviewing the ongoing activities detailed on page 3, we have created an action plan for future activities. We are committed to: Exploring new ways to attract, promote and retain female talent, particularly at a senior level Implementing diverse recruitment panels Improving advertising positions and, in turn, the processing of internal talent. We will pay particular attention to ways in which we can encourage our current female employees to apply for roles at SSP Seeking out opportunities to promote and support women at SSP, and in the technology sector Designing a programme that supports new parents returning to SSP after maternity leave While this report is focused on gender, our new Diversity Forum will be looking at a number of areas to ensure we attract, promote and retain a diverse workforce across SSP. We are confident that the activities outlined above will help to reduce our current gender pay gap, support staff in their lives outside of SSP, and enable them to achieve their full potential, career goals and aspirations. Declaration I can confirm that our data is accurate and has been calculated according to the requirements of the Equity Act 2010 (Gender Pay Gap Information) Regulations Stephen Lathrope Chief Executive Officer 5

6 FOOTNOTES: 1. SSP s gender pay gap is worked out by totalling the hourly rates of all the men at SSP, and then taking an average, before doing the same for the female hourly rates. The difference, or gap between the two averages is expressed as a percentage of the male salaries. 2. Narrowing the UK gender gap in work has the potential to create an extra 150 billion on top of business-as-usual GDP forecasts in 2025, and could translate into 840,000 additional female employees. McKinsey Global Institute, According to Staffmetrix, the median pay gap for the Financial Services sector is 31% (data from the government s gender pay gap registry information, October 2017). 4. The government requires that we report using both mean and median averages, and display the proportion of male and female employees in four pay quartiles. These quartiles do not reflect SSP s grading structure. For a detailed explanation of reporting criteria, please see 6