The Gender Pay Gap is not just one measure; there are in fact 6 measures that companies have to publish annually:
At McCurrach, we are encouraged to find that our gender pay measures are consistently and significantly better than the averages across UK companies, according to the Office for National Statistics. While we would like to see more females in leadership and technology roles, (and have plans in place to support this ambition) in all of our non-Exec management grades, both average pay and median pay for females is higher than that of males. Although we do have some gaps across the measures, we have an action plan in place to improve our performance.
The Mean Gender Pay Gap is the difference in average hourly rates of pay that male and female employees receive. This gives an overall indication of the gender pay gap by taking all hourly rates of pay and dividing by the total number of colleagues in the pay period.
At McCurrach, the Mean Gender pay gap is 5.9% in favour of men. This figure is significantly lower than the UK Office of National Statistics figure of 17.3%.
Median Gender Pay Gap is the difference in the midpoints of the ranges of hourly rates of pay for men and women. This is calculated by ordering individual rates of pay from highest to lowest, and comparing the middle value.
At McCurrach, the Median Gender pay gap is 2.8% in favour of men. This is significantly below the Office of National Statistics figure of 18.1%.
The Mean Bonus Pay Gap is the difference in average bonus pay that male and female employees receive.
At McCurrach, the Mean Bonus pay gap is -0.23% in favour of women.
The Median Bonus Pay Gap is the difference in the midpoints of the ranges of bonus pay received by men and women.
At McCurrach, the Median Gender pay gap is 9.7% in favour of men.
54% of all males at McCurrach receive a bonus and 39% of all females receive a bonus.
The McCurrach pay split by quartile is as follows:
Upper 64% male, 36% female
Upper Middle 65% male, 35% female
Lower Middle 70% male, 30% female
Lower 43% male, 57% female
At McCurrach, while we are encouraged that our gender pay measures are consistently and significantly much better than the averages across UK companies, we do not wish to be complacent.
At McCurrach, we believe that by encouraging women to realise their full potential, we all benefit from a more diverse and successful business. As a result, our Executive Board are working on an action plan to further improve our measures for next year.
These actions include:
At McCurrach, we welcome the introduction of Gender Pay Gap reporting and believe that it is a huge step forward towards greater workplace equality. Our goal is to make year on year improvements in our measures and ensure that everyone at McCurrach is fairly rewarded for their performance and talents.
Head of HR