Gender Pay Gap
As of the 4 April 2018, all organisations in the UK with more than 250 employees are required to publish details of their gender pay gap. In particular, the difference in average female earnings compared to average male earnings.
For M&Y these figures are:
- Mean gender pay gap = 13.6%
- Median gender pay gap = 11.8%
- Mean bonus gender pay gap = 100%
- Median bonus gender pay gap = 100%
- Percentage who received a bonus = 13.9% (not applicable)
The proportion of male and females in each pay quartile:
- Lower quartile = 80.4% male and 19.6% female
- Lower middle quartile = 94.6% male and 5.4% female
- Upper middle quartile = 92.9% male and 7.1% female
- Upper quartile = 94.5% male and 5.5% female
For comparison, the workforce is 11% female, 91% male overall.
Narrative from the Executive Team at Regenda Homes
The mean gender pay gap across M&Y on 5 April 2018 was 13.6%. This is an improvement from the previous year which stood at 14.7%. We are committed to ensuring that our pay and reward strategy is fair and gender neutral including continuing to complete a pay benchmarking exercise every two years as a minimum.
The data shows that females are over represented in roles in the lowest pay quartiles and underrepresented in the top quartile. The key reason for this is the dominance of men in the skilled trade’s roles, along with the associated career routes for these trade-based occupations. There is evidently more work required to identify, encourage and equip female employees to take up skilled trade roles and identify and encourage women who have the potential to grow into more senior roles.
In summer 2019, M&Y launched an apprenticeship programme which encourages more women to enter the skilled trades, in partnership with our in-house training organisation, The Learning Foundry.
In addition, the LEAD programme, aimed at aspiring or newly promoted managers, will provide support, skills development and confidence to a new generation of future managers.
M&Y also provides access to the Housing Diversity Network (HDN) mentoring programme, which offers external coaching and mentoring to support our employees develop and work towards external as well as internal opportunities.
The People Services Team will develop a suite of Equality and Diversity metrics, including recruitment and promotion related indicators, which will closely monitor the gender pay gap and indicators across all the equality strands.
Through our staff representative body – VOICE, we will share gender pay information and seek views from our workforce to help identify any barriers they believe contribute to gender inequality and will work together to mitigate or eliminate them.
M&Y is committed to working towards closing and eliminating our gender pay gap in the future and keeping our workforce and Board regularly updated with progress towards achieving this.