We use performance cookies to collect information about how you use our website (for instance which pages you visit most often). Cookies help us to improve your online experience with Aspen. Find out more here

close

Our 2018 UK Gender Pay Gap Report

In line with the UK Equality Act 2010 (Gender Pay Gap Information) Regulations 2017 in force from April 2017 onwards, companies with over 250 employees are required to annually disclose their gender pay gap.

Here we fulfil the statutory requirements, as well as provide relevant context along with our approach to closing the underlying gap.

Pay and Bonus Gap

Difference between men and women  
  Mean Median
Pay Gap 28.13% 22.84%
Bonus Gap 37.99% 42.86%

 

The table above shows the mean and median pay and bonus gaps for our employees in the UK as at 5 April 2018.  The mean and median bonus gap figures are the same, indicating that the gap is not being driven by male outliers. Further analysis has identified that there are demographic gaps where we have an imbalance of men and women across the organisation, particularly where we have significantly fewer women in more senior roles.

Percentage receiving a bonus

Males - 90% Females - 87%

 

We have a 3% difference between the number of men and women in the UK being paid a bonus for their performance in 2017.

Gender Split - Pay Quartiles

.

When reviewing our gender pay gap in the UK, we draw up a list of our employees’ earnings – from the highest to the lowest – and split this into four equally-sized groups, or quartiles. This allows us to calculate the proportion of men and women in each quartile. The chart above illustrates the gender distribution within Aspen’s UK business across these four quartiles.

How we are addressing the pay gap

Extensive research shows that a diverse work force is good for business. Diverse organisations are generally more profitable, attract the best talent and have higher employee engagement. We remain committed to closing our gender pay gap and to promoting a culture of inclusiveness and diversity across our business globally.

Recruitment

In fulfilling our aim to ensure that our recruitment is conducted in line with market best practise, we have partnered with Avencia for all permanent, contract and temporary appointments in the UK. Avencia, like Aspen, are committed to providing fair and diverse recruitment practices. We agree to use our best endeavours to advertise open positions internally and run a fair and robust recruitment process.

Fairness in Reward

We have made significant progress in monitoring our remuneration against internal peers and external benchmarks to ensure pay-parity for our employees regardless of gender based on our job classification framework.

Flexible Working Opportunities 

We see alternative work patterns that fit with flexible working options as key to supporting a diverse workforce. We have made good progress in this area and will continue to be supportive of alternative ways of working that allow an enhanced work-life balance, subject to business requirements. We will also continue to support shared parental leave and phased return to work plans that provide alternatives to leaving the workforce and the ability to develop careers while taking into account family and life commitments.

Appointment of a senior executive to own gender diversity

We have appointed our UK CEO, Mike Cain, as our senior executive diversity champion to oversee gender diversity matters in the UK. We are fully committed to extending a range of initiatives to promote the diversity agenda effectively across our business.