Gender pay gap report
One of our key priorities for 2018 and beyond is delivering further improvement in gender diversity across the business. Women are well represented in middle management, taking around half of these roles, but we recognise that there is scope for improvement in gender diversity at more senior positions and we are working hard to address this.
Our gender pay gap data that we have reported under the Government’s gender pay gap regulations 2016, demonstrates the progress we are making towards that objective.
|Women are well represented at Charter Court, accounting for 54% of our 434 Relevant Employees as defined by the Regulations at our 5 April 2017 payroll date.|
There is also a good gender balance in our lower middle and upper middle quartile pay bands, while women represented some 30% of Relevant Employees in our Upper Quartile pay band.
|Over 91% of women and 89% of men received a bonus in 2016, reflecting our overall gender balance and our commitment that all roles at Charter Court offer equitable bonus opportunity based on individual merit and overall company performance.|
Our mean gender pay gap at 5 April 2017 was 51.3% and our median gender pay gap was 21.6%
Our gender pay gap is a result of the greater number of men in our most senior positions, in common with many other companies in the financial services sector which typically have a historic structural bias towards men in senior management. CCFS currently conforms to this industry pattern. However, we are committed to increasing gender diversity at senior management and Board level and already have initiatives in place that are working to tackle this imbalance.
We have signed up to HM Treasury’s Women in Finance Charter under which we have committed to increasing the proportion of women in senior management positions as defined by the Hampton-Alexander Review (i.e. Executive Committee and their Direct Reports) to 30% by 2022, while maintaining our overall gender balance of around 50:50.
Inclusion and Gender diversity are also key factors in our longer-term Board succession planning which we review regularly with our external consultants.
We already have a number of practical initiatives up and running that include a range of flexible working opportunities and the proactive encouragement of women to take up more senior and executive positions in the company. For example, women now account for 58% of the managers that have been through our Leadership Development Programme and 50% of the initial intake of our Aspiring Managers Programme*.
Mark Smith, Director of HR and Central Operations, is our senior manager responsible and accountable for gender diversity and inclusion under the Women in Finance Charter and Roselle Allsop, Head of Marketing, as the company’s dedicated Diversity Champion, promotes our diversity and inclusivity agenda, policies and initiatives at all levels in the company and facilitates our external contribution to greater gender diversity and inclusivity in the UK more broadly.
We expect to reduce our gender pay gap as we meet our Board and senior management gender diversity objectives and as our business continues to grow and evolve.
*As per 2017 figures.