Davies Group Gender Pay Report
At Davies, we are committed to growing an inclusive and diverse workforce by attracting, retaining and developing world-class people. We are working hard to foster an environment in which all of our current and future colleagues have the opportunity to succeed, regardless of race, religion or belief, age, gender, disability, sexual orientation, gender identity/expression or nationality.
While we recognise, like many companies, that we need to improve our gender pay differentials, we are proud of the progress we have made over the last few years. By increasing our investment in internal promotion, in training and development, and by adopting a more progressive and inclusive approach to flexible working and homeworking, we have reduced our mean gender pay gap from 39% in 2015 to 32% in 2017.
The data from April 2017 shows that our workforce is split 53% female and 47% male. The gender and bonus pay gaps are measures to identify the difference between average earnings and bonuses for men and women. This is different to equal pay, which relates to men and women being paid the same for the same work or work of equal value. When we look at the hourly pay for specific roles, our average pay for men and women is equal, showing that we pay fairly and consistently.
Like many businesses across the financial and insurance sector, we have a higher proportion of women in more junior, lower paid roles (62% women to men 38%). Conversely we have a larger proportion of men (73%) in more senior and higher paid technical, field and management roles, (i.e. our upper quartile). With our company roots in the insurance, claims and loss adjusting markets this is not surprising, but it is a legacy we intend to address. To this end, in 2017, we made around 100 internal promotions in the group with women being successful in more than half of the instances. We also have set ourselves a target to increase the representation of women in senior roles in 2018 and each year thereafter to continue to improve our gender pay gap. We recognise that lasting change takes time. Some of our initiatives such as increasing the proportion of female apprentices, graduate, and junior managers may even have a short term negative impact on our gender pay gap, because the new roles are more likely to be at junior level, but we are confident that we have the right plans in place for the longer term.
Our Gender Pay Report
On gender pay results, for Davies Group for 2017, the mean (mathematical average) and median (central number) are:
|% employees receiving bonus||23%||36%|
|% employees in Q1 Lower||68%||32%|
|% employees in Q2 Lower Middle||66%||34%|
|% employees in Q3 Upper Middle||51%||49%|
|% employees in Q4 Higher||27%||73%|
These results are based on the pay data for all UK employees at April 2017 and those receiving bonus in the year up to April 2017. I confirm that the gender pay data set out in this report is accurate.