Gender pay gap

Gender pay gap

All organisations with 250 or more employees are required to publish data on their gender pay gap (the difference in hourly pay between male and female employees) each year.

The Heritage Fund is committed to progressing equality within the organisation and meeting our statutory responsibilities. Below and in the attached PDF we share information about our gender pay gap for 2022-2023. This work is important to us and we use the services of an external specialist, XpertHR, to support our data analysis.

As with other employers, our data is taken from a workforce ‘snapshot’ in March 2023, which is reported one year in arrears.

You can download reports going back to 2016–2017 from this page.

Gender pay gap for 2022–2023

Our median gender pay gap is 1.80%, down from 8.45% in 2022. This means that women earn 98p for every £1 that men, when comparing median hourly pay.

The mean gender pay gap is 6.88%, down from 12.20% in 2022.

Our gender pay gaps are based on hourly pay at the snapshot date (31 March 2023).

Heritage Fund median gender pay gap
YearMedian gender pay gap
2018–201917.4%
2019–202012.1%
2020–202113.1%
2021–20228.45%
2022-20231.8%

Gender pay calculations are made by assessing differences between pay quartiles between men and women. At the Heritage Fund we have a gender imbalance in our workforce (around 75% of our people are women), which is a major contributor to our gender pay gap.

Percentage of women in our workforce by pay quartile
Quartile% of women 2022% of women 2023
Lower85.23%78.05%
Lower middle75.00%72.84%
Upper middle72.73%74.07%
Upper62.07%66.67%

Addressing our gender pay gap

We’re committed to tackling the factors that cause our gender pay gap. Since our last report, alongside a range of changes as part of our wider work to promote equality, diversity and inclusion, we have:

  • improved our recruitment processes, to improve the experiences of candidates and managers and attract more diverse applicants
  • structured our pay award for 2022 to provide higher awards for those in lower pay ranges and lower pay quartiles.
  • developed an expanded range of family friendly policies and improved our special leave policy

In the year ahead, we will strive to reduce our gender pay gap by:

  • conducting an in-depth analysis of the 2024 gender pay gap and its causes. The gender pay gap is usually reported a year in arrears. We’re committed to starting our analysis of our 2024 pay gap early, while the data is still as current as possible.
  • developing an action plan to guide our actions on workforce culture, equality, diversity and inclusion
  • reviewing the impact of our family friendly and special leave policies
  • updating our flexible working policies and processes
  • continuing to regularly analyse workforce data, to improve our monitoring and decision making

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