Gender pay gap
This report is for 2020-2021. You can can download reports going back to 2016-2017 from this page.
Headlines for 2020-2021
The overall median average has increased, from 12.1% to 13.1%.
The overall mean average for the period has increased from 11.5% to 13.7%.
Understanding our 2020-2021 data
As set out in previous gender pay gap reports, The Fund’s overall position is unique in that, based on our demographics, gender population size, distribution, etc, our overall gender pay gap is skewed significantly by these parameters. This is demonstrated by a significant reduction in the number of men in the lower quartile, however the overall gender pay gap has increased.
The previous twelve months has seen an increase of 1% in the gender pay gap, following a significant reduction in 2020.
Addressing our gender pay gap
However, The Fund recognises that more needs to be done to ensure that potential barriers regarding recruitment and selection, pay and progression and workplace inclusion continue to be actioned, in order to improve the gender pay gap within the organisation.
The Fund will specifically look at the following areas to address the overall gender pay gap whilst at the same time work on the broader equalities agenda we have to develop a workforce that is more representative of the communities we serve.
- Implement a workforce action plan to improve gender equality and other strands of inclusion across The Fund.
- We will continue to engage with colleagues in Trade Unions to provide independent scrutiny to our policy and procedures.
- Further resource our equality and policy work across the organisation.
- We will continue to monitor changes as a result of pay grading and restructure changes.
- We will introduce a new recruitment policy with a central focus on workforce diversity and a commitment to positive action to addressing under-representation in the workforce.
- We will support managers to empower them to develop local actions to improve the diversity of their teams and review this annually.
- We will equip managers with improved recruitment tools and processes (including a new recruitment system) and review use annually.
- We will develop a new Recruitment Framework based on our new Behavioural and Performance Management Frameworks and drive inclusive behaviours as a key factor for recruiting / promoting staff.
- We will develop our current learning and development offer surrounding equality.
- We will build and launch new written recruitment guidelines to upskill awareness of process requirements and promote diversity best practice.
- We will build responsibilities for championing Equality, Diversity and Inclusion (EDI) into our new Behavioural Framework.
- We will improve our management information reporting on workforce diversity – providing bi-annual reports for managers and holding review discussions at senior management level.
- We will review, publicise and promote our Equality Impact Assessment scheme to ensure gender related considerations are recorded in decision making.
- We will provide a programme of interactive workshops on the menopause and gender.
- We will produce new guidelines for managing the menopause.
- We will ask colleagues what support they need to enable them to better manage gender diversity both in their team and community-facing work.
- We will produce new guidelines for supporting trans staff.
- We will continue to work with colleagues in Internal Communications to develop regular briefings and guides for staff to help promote wellbeing and support.
- We will develop a new Equality Policy and Dignity at Work Policy.
- We will set up joint working frameworks to ensure workforce diversity goals and actions support, deliver and embed the goals of the Corporate Strategy, the Equality strategies and The Fund’s KPIs.
- We will ensure that Executive and Strategy Performance Group (SPG) hold annual reviews of workforce diversity.
Our 2020-2021 data
- Median gender pay gap: 13.1%
- Mean gender pay gap: 13.7%
- Median bonus gender pay gap: 0.0%
- Mean bonus gender pay gap: 8.7%
- Male employees receiving bonus: 85.4%
- Female employees receiving bonus: 79.4%
Pay quartiles (percent of employees in each quartile by sex)
- Lower quartile men: 17.1%
- Lower quartile women: 82.9%
- Lower middle quartile men: 20.7%
- Lower middle quartile women: 79.3%
- Upper middle quartile men: 26.8%
- Upper middle quartile: 73.2%
- Upper quartile men: 35.4%
- Upper quartile women: 64.6%