We believe that our actions should support our commitment to a diverse culture where all employees feel engaged and supported in the company. To this end, we created a Women@ThirdBridge women’s affinity group and launched our first global women’s mentoring programme. Recognising the importance of inclusion and engaging our male leaders, we have both men and women as mentors to our women mentees.
Additionally, we launched our first global senior leadership development programme with 46% of participants female. Our gender pay gap reporting is another measure to demonstrate our commitment. We are on a journey, and while we are not where we want to be, we are making progress. Our goal is to move beyond meeting statutory obligations, and achieve pay equity for all of our employees.
Background
Gender pay gap reporting legislation requires employers with 250 or more employees to publish statutory calculations every year showing how large the pay gap is between male and female employees. This will be published on GOV.UK.
Our pay gap report is based on the following:
- We have prepared this snapshot information based on the April 2021 pay period.
- The data includes all relevant employees according to the legislation and all individuals on our payroll data for the time period in our analysis.
The pay gap for the April 2021 period is predominantly driven by these key factors:
- The headquarters for our global company is in London, which is also where the majority of our global senior executives are based and paid during the snapshot period. The majority of our executive team during this period are male.
- Many of our technical and specialised roles are held by males.
Our bonus pay gap saw some progress, with the median bonus pay gap decreasing by 16.5% between men and women. We saw continuity from the last gender pay gap report, with around 75% of the female workforce receiving a bonus and this was almost level with our male workforce.
Our Progress
Hiring and Promotions
Since the date of the snapshot period, we have made progress in hiring and advancing our females, including:
- All of our quartiles represent higher % of female to male for the 1st time since tracking our Gender Pay Gap
- Four of our senior hires are female:
- Chief Financial Officer
- Head of Legal
- Global Head of Talent Development
- SVP, Connections (Europe)
In line with the announcement from the Minister of Women (8 March), we will participate by not asking for salary history as part of the recruitment process, as we know that this could negatively impact the negotiating power of women.
Our Benefits and Policies
- In an effort to promote pay transparency, we will provide a salary range for new openings
- We pay above the statutory parental pay and allow more time for family leave
- Implemented a hybrid work policy allowing more flexibility for our employees
- Expansion of our benefits to include menopause support
We remain committed to closing the gender pay gap and will continue to build upon these initiatives.