Gender Pay Gap Report
EXECUTIVE SUMMARY
Spring believes that to ensure equality and fairness, we need to create a working environment that transparently advocates this. In publishing our gender pay gap report results, we can show our position as an organisation who recruit male and female talent across the business. The results show that as a Company we have strong lead female workforce, with -9.18% of mean pay gap in favour of women and 7.61% on the median pay gap in favour of men. On the bonus pay the mean was -21% in favour of women, and 63% on median showing as in favour of men. Spring uses these results to review and grow so we can better endeavour to promote female leadership in a fair and considered way.
OUR COMMITMENT
We believe that for us to continuously innovate and evolve as a business, we need to foster a culture that is reflective of our society, and to do so we need to ensure gender equality among our people
Spring is committed to ensure fairness, transparency and equality across our organisation, with diversity & inclusion as part of our core values. We want our employees to feel respected, valued, represented and successful.
As part of us wanting to improve our efforts across inclusion, Spring reports on the Gender Pay Gap across all sites to transparently demonstrate where we are as a Group and where we would like to be.
THE RESULTS
The results showed that across the Group female workers were paid 9.18% higher than their male counterparts on the mean value. On the median, men were paid 7.61% higher. The reason for the varied results is due to high level of female staff in senior positions across the Group. When we compare the midpoint though, we also have a higher proportion of female staff in more junior roles and more men in mid seniority positions
This is apparent when we look at the quartile splits across the Group, which demonstrates lowest to highest paid workers across the organisation, split into equal groups based on the headcount.
BONUS PAY
Within our calculations, we assess the bonus pay across the Group. The results showed that women earned a higher proportion on the mean 21%, however men received a higher median at 63%. The reason for the results displaying in this way, was women received a higher percentage of bonus as a payment, whilst more men were paid a bonus overall
REPORTING
For our reporting, we use the UK Government format issued, in accordance with the Equality Act 2010 (Gender Pay Information) Regulations 2017, which asks Companies of 250 people or more, to annually report on their Gender Pay Gap using snapshot date of April payroll of each year
We report on the Group, converting £GBP for consistency across the offices. As and when regional sites update their reporting structure in line with national laws, Spring will publicly report on these areas also.
The reporting breaks down the mean and median of pay of women and men within the Group, and further split these into four quartiles assessing the pay gaps across our lowest and highest paid employees.
The results also report on the bonus pay for the snapshot year between 31st March 2020- 1st April 2021 and includes mean and median bonus pay across men and women in the Group.
CONCLUSION
Our results found that we are moving in the right direction in terms of inclusion and addressing the gender pay gap. We are proud to have a strong female leadership team within the Group. For Spring, it’ s important we maintain and improve equality across all areas of the organisation, and so are taking some practical measures to ensure this continues and is enhanced.
• Establishment and strategy set for Global Diversity committee, to advise the leadership on ways we can improve our diversity & inclusion across the Group
• Annual review of Group internal and external policies in line with legislation and continuous improvement in mind
• Published reporting and policies detailing our efforts surrounding Diversity and Inclusion across the Group
• We have a clear benchmark, and review cycle which reviews the market and competitors, to ensure employees are paid based on their positions. We maintain an objective approach to ensure fairness across the Group
We continue to look at and review new ways in which we can improve ourselves, and for working with us.