UK Gender Pay Gap - Aspen

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Our 2017 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 21.7% 19.9%
Bonus Gap 45.6% 45.6%

 

The table above shows the mean and median pay and bonus gaps as at 5 April 2017 for our UK employees.  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 our businesses in the UK particularly where we have fewer women in senior roles. 

Percentage receiving a bonus

Males - 89.3% Females - 88.8%

 

We have a 0.5% difference between the number of men and women in the UK being paid a bonus for their performance in 2016.

Gender Split - Pay Quartiles

The above chart illustrates the gender distribution within Aspen's UK businesses across four equally sized quartiles each containing 139 employees.

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. The drive to continue to promote a diverse organisation is led by our CEO and senior leadership team who demonstrate commitment and persistence to the implementation of initiatives that will embed gender diversity within Aspen.

Recruitment

We aim to ensure that our recruitment is conducted in line with best practise. This includes engaging with recruitment partners who are committed to diverse recruitment practices. We agree to use our best endeavours to advertise open positons internally and run a fair and robust recruitment process.

Fairness in Reward

We will monitor remuneration against internal peers and external benchmarks to ensure pay parity for all employees regardless of gender based on our job classification framework, which supports accurate benchmarking to ensure consistent salary positioning.

Flexible Working Opportunities 

We will support alternative work patterns that fit with flexible working options, where appropriate. Utilising advances in technology, we will consider part time and remote working opportunities subject to business requirements, which assist in building a gender diverse workforce.  We support shared parental leave and phased return to work plans that provide alternatives to leaving the workforce and the ability to develop careers whilst taking into account family and life commitments.

Appointment of a senior executive to own gender diversity

We have appointed a member of the senior executive team to oversee gender diversity matters in the UK.  This has been shown to promote the diversity agenda effectively, including promoting awareness and a culture of inclusion within organisations.