Gender Pay Gap Report 2021

This year, our gender pay gap is 24.9%. As in previous years, this is due to having more males in senior and specialist roles. We always have, and always will, recruit based purely on talent and finding the right person for the role – irrespective of gender.

The period in which this data was gathered was April 2021 when our branches were closed during lockdown. Due to this only 18% of our people are taken into account when calculating the gender pay gap.

Our team members in the branches start on a salary of up to £22,766 per annum dependant on location from the day they join us, and we are proud to offer a number of bonus schemes. Last year over 94% of females and 91% of males received a bonus.

We’ve featured in the 100 Best Companies to Work For list for the last 18 years and this year we were named as the #1 Best Company To Work For in the UK in 2021! We were also awarded Retail’s Best Company to Work For.

We’re continually committed to enriching lives through charity and community work, and we’ve donated over £17million to over 750 charities since the year 2000. We match fund anything our people raise for charity and give all colleagues two paid days to do charity and community work. I know we’re getting it right as over 91.5% of our people voted us ‘extraordinary’ as a workplace and it’s so important that our Beaverbrooks family feels valued and cared for.

Managing Director.

At the heart of our brand for over 100 years is our relationship with people.

Our purpose of enriching people’s lives is supported by our key values (passion, integrity, caring, trust and fairness) and our behaviours, set out in a document we call The Beaverbrooks Way. It’s a company ethos by which all decisions are made and everyone in the business works within.

Our Results

Our figures are based on 170 relevant employees for the pay gap, of which all are office based due to branches being closed due to lock down. Beaverbrooks is fully compliant with the requirements of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Hourly Rate of Pay

Our results show that women receive 24.9% less pay than men. We have a structured pay scale and have found no inconsistencies between males and females.

There are three reasons for the gap:

• There are more males in specialist roles which tend to pay higher
• Due to Covid the branches were closed and figures are based on office colleagues only
• There are more males than females in the senior management team

There is low turnover in the senior management team and specialist roles, which gives little opportunity for promotion or recruitment. Females make up 42% of the senior management team and 3 of which are part time.

We believe in treating fairly and we do not employ anyone on zero hours contracts.

Our Quartiles

There is a high proportion of females in the lower three quartiles, with most being administrators in our office. This is because the opportunity to work part-time hours around family life is attractive to females.

In quartile four the percentage of males has increased. This is not something we have focused on as we always recruit the right person for the job irrespective of gender.

• Lower: 69.8% Male, 30.2% Female
• Lower Middle: 79.1% Male, 20.9% Female
• Upper Middle: 74.4% Male, 25.6% Female
• Lower: 48.8% Male, 51.2% Female

• In the last 12 months 79% of all internal promotions were women
• We help people have a great work life balance
• 89% of our part timers are female
• 25% of our Senior Management team are working mums

Bonus

Our bonus structure has not changed since last year with everyone’s bonus being based on their salary to ensure any bonuses earned are fair.

Senior managers are the exception as they get exactly the same irrespective of their salary and hours.

Our results show that our bonus pay gap is 60.1% which is due to the bonus being calculated as a percentage of someone’s salary - 80% of males are full time compared to 52% of females.

If all management were removed from the figures, the gap would be 16%.

We encourage people to return to work after maternity/shared/adoption leave by giving them a bonus of one months pay.

• We give every team member with over 12 months service a gift of one week’s wages every year
• 94.7% of males and 91.7% of females received a bonus

Full Time Employees

• 52% of all females are full time
• 80% of all males are full time