From 2017, all UK companies with over 250 employees are required to report on their Gender Pay Gap. This measures the difference between the average pay of all men and women employed, whatever their role in the organisation.
It is important to make the distinction between Gender Pay and Equal Pay. Equal pay looks at whether men and women receive equal pay for equal work, and is legislated under the Equality Act 2010. A Gender Pay Gap may still exist where there is Equal Pay, for example, if there are more men than women are employed in higher earning roles.
At tifgroup, we are confident that our pay structure ensures that there is no discrimination in remuneration for men and women in the same roles.
The requirement to report on our Gender Pay Gap is one that we support fully, as it aligns with our core value of open and honest communication.
Pay Gap (Mean): 26.8%
Pay Gap (Median): 10.7%
Bonus Gap (Mean): 90.3%
Bonus Gap (Median): 30.4%
The pay and bonus gap reflected in these stats represents the higher proportion of men in Director level positions. The Quartile Analysis, however, shows more women across all quartiles. A notable shift we have seen from last year’s stats is that the number of women occupying roles in the Upper Quartile now exceeds the number of men, demonstrating our ongoing commitment to employing women in senior roles. An overall pay gap remains due to the wide range of hourly pay rates captured within this quartile.
At tifgroup we are dedicated to reducing our Gender Pay Gap and ensuring we have a balanced workforce. As part of our annual pay review process, we benchmark job roles and review market rates to ensure a fair pay structure across employees in all our divisions, regardless of gender.
Once again, we welcome the opportunity to publish stats on Gender Pay Gap, as this supports our ongoing commitment to monitor the gap and where necessary identify and implement measures to address this. Due to the circumstances brought about by the Covid-19 pandemic, we mobilised our workforce to a hybrid model that supports both home-based and office-based working. Whilst this was a necessity for any responsible employer, we continue to offer this flexibility to our staff to provide enhanced balance to accommodate the needs of our workforce. Whilst recruitment opportunities are currently limited as our industry recovers, our established recruitment processes remain effective in bringing the very best people into our business, regardless of gender, and we will continue to work hard to retain these people through providing a great working environment with a good balance of men and women at all levels.
We remain confident that we pay men and women equally for equivalent roles, and we confirm that the data reported is accurate.
Director of Operations