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.
Pay Gap (Mean): 26.3%
Pay Gap (Median): 5.4%
Bonus Gap (Mean): 82.5%
Bonus Gap (Median): 24.3%
The pay and bonus gap reflected in these stats represents the higher proportion of men in senior positions. Whilst this shows more women occupying lower paid roles, the Upper Middle Quartile is 80% female and demonstrates our commitment to employing women in management roles.
At tifgroup we are dedicated to reducing our Gender Pay Gap and ensuring we have a balanced workforce. We currently have a 50/50 split between male and female Directors in our business. As part of our annual pay review process, we benchmark job roles and review market rates to ensure a fair pay structure across our divisions.
We welcome the Government’s initiative to report on Gender Pay Gap, as by reviewing such statistics on a regular basis we can continue to monitor the gap and where necessary implement measures to address this. In the last few months, we have introduced more flexibility in the working day to better accommodate the needs of a balanced workforce. Our recruitment processes are designed to bring 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.
Our pay gap is indicative of the number of men in senior positions, which of course has an impact on the averages we see in this report. But we are confident that we pay men and women equally for equivalent roles.
We confirm that the data reported is accurate.
Sarah Adams, Director of Operations