The proportion of colleagues awarded a bonus
tifgroup
From 2017, all UK companies with over 250 employees are required to report on their Gender Pay Gap. This measures the difference between the average pay of all men and women employed, whatever their role in the organisation.
It is important to make the distinction between Gender Pay and Equal Pay. Equal pay looks at whether men and women receive equal pay for equal work, and is legislated under the Equality Act 2010. A Gender Pay Gap may still exist where there is Equal Pay, for example, if there are more men than women are employed in higher earning roles.
At tifgroup, we are confident that our pay structure ensures that there is no discrimination in remuneration for men and women in the same roles.
The requirement to report on our Gender Pay Gap is one that we support fully, as it aligns with our core value of open and honest communication.
Pay Gap (Mean): 40.3%
Pay Gap (Median): 45.6%
Bonus Gap (Mean): 89.8%
Bonus Gap (Median): -52.1%
The pay and bonus gap reflected in these stats represents the higher proportion of men in senior level positions, with the Quartile Analysis showing more women across the Lower Quartiles. An overall pay gap remains due to the wide range of hourly pay rates captured within the Upper Quartiles.
Whilst these stats appear to illustrate a widening of the pay gap from last year’s published figures, it is important to note that due to the constraints imposed by the Covid-19 pandemic there have been no actual changes to pay since 2020. The changes we see in the pay gap reflect that the stats are based on a much smaller staff base; our extensive utilisation of the Government’s furlough scheme means that a large proportion of our staff had to be omitted from these calculations.
At tifgroup we are committed to reducing our Gender Pay Gap and ensuring we have a balanced workforce. As part of our annual pay review process, we benchmark job roles and review market rates to ensure a fair pay structure across employees in all our divisions, regardless of gender.
Each year we welcome the opportunity to publish stats on Gender Pay Gap, as this supports our ongoing commitment to monitor the gap and where necessary identify and implement measures to address this. In the wake of the Covid-19 pandemic we continue to offer our team the flexibility of a hybrid approach to working, with staff being able to choose between being home-based, office-based or a combination of the two. We believe that providing this flexibility to our staff gives enhanced balance in accommodating the needs of our workforce. When recruitment opportunities become a reality again as our industry recovers, we remain confident that our established recruitment processes will be effective in bringing the very best people into our business, regardless of gender, and we will continue to work hard to retain these people through providing a great working environment with a good balance of men and women at all levels.
In our organisation men and women are paid equally for equivalent roles, and we confirm that the data reported is accurate.
Sarah Adams,
Director of Operations
