Background
- The gender pay gap reporting legislation requires employers with 250 or more employees to publish statutory calculations each year to show the pay gap between their male and female employees.
Our pay gap report is based on the following:
- The April 2022 pay period.
- All relevant employees in line with the legislation.
Report results since our 2021 report
- Decreased the mean gender pay gap by 13%.
- Decreased the median gender pay gap by 10%.
- The number of women employees receiving bonuses increased by 7%.
- Decreased the mean gender bonus gap by 6%.
Displayed below are the percentage of women and men in each hourly pay quartile:
As with our 2021 report, the main contributory factor to our gender pay gap is due to the majority of our senior executives sitting in our London office – this is shown by our Top Quartile distribution. We did however see a 10% increase in women reaching the top quartile, which is progress we aim to build further on. This trend was further illustrated in our Upper Mid Quartile, a section composed of senior leadership team members where we see that women outnumber men – which is another advance since our report in 2021. We found that in one of our major company divisions, Connections, women hold 83% of the most senior positions.
Diversity and inclusion – progress since 2022 and plans for 2023
We are proud to see this quantitative improvement in our gender pay gap and are actively building this as a pillar of our employee experience.
This is supported by our company 2023 diversity & inclusion (D&I) goals:
- Empower employees to create a culture of inclusivity, celebration and agency.
- Drive attraction, retention and advancement of a diverse employee population.
In terms of the second point, Third Bridge had a 50/50 split of women and men hires across 2022, demonstrating our commitment to attracting a balanced workforce in terms of gender. Our data shows that Third Bridge has actually overturned the gender gap in terms of management, with women making up 52% of the total managers in our UK office.
Our Women at Third Bridge employee resource group (ERG) is an employee-led network which aims to foster a culture of inclusivity and actively develop the professional trajectory for our female colleagues. This group has continued in popularity and helped to move the needle in female equity at Third Bridge, with more than 100 employees taking part in our women’s mentorship programme run by the ERG in 2022. This mentorship programme has continued in 2023 due to its popularity with employees – we also saw tangible results from this as 63% of those who participated in the programme were promoted.
Policy and culture changes
We are striving to lead the industry by launching our enhanced parental leave policy for UK-based employees in 2023, which provides 12 extra weeks of paid leave to our employees who are on maternity, adoption or shared parental leave. This is an important step in the right direction to support our employees and reinforces our commitment to closing the gender pay gap. We’re particularly proud of how this initiative was a result of the senior leadership directly listening to our employees and what’s important to them.
Announcing the policy Emmanuel Tahar, founder and CEO of Third Bridge, said:
“We are making this change so we can give working parents a greater sense of security when they need it most. The UK may be in the midst of a recession but that doesn’t mean these issues have to take a back seat.”
The culture we foster at Third Bridge also fosters an active dialogue around gender issues. One example is our coffee roulette initiative where employees from across the business get matched with a colleague to meet for a coffee to specifically discuss women’s issues. We also held a mental health awareness event with an all female panel.
Building on this active dialogue, we have updated our unconscious bias training to include specific examples of gender inequality and microaggressions in the workplace. In 2023, we have introduced this to all new hires as a mandatory part of their onboarding and are delivering it to all current managers and employees too.
This statement confirms that the published information is accurate at the time of publishing and is signed and authorised by Emmanuel Tahar.
