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UK Pay Gaps 2021

UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures Contents Inside this document Group Chief Executive's statement 02. UK-wide gender pay gaps 03. UK-wide ethnicity pay gaps 06. Statutory UK gender pay gaps disclosures 08. 01 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures Group Chief Executive's statement UK gender and ethnicity pay gaps 2021. We want to recruit, retain and engage the talent Through our Race at Work Action Plan, we are also that Barclays needs to succeed. Being an inclusive working to address the fact that some ethnicities . organisation is an essential part of that, where are significantly underrepresented at Barclays. We individuals feel confident that they can progress to are focusing our efforts across four areas: increasing senior levels, regardless of their gender , or ethnicity.

UK-wide gender pay gaps continued Pay gaps and representation Our actions to close the gender pay gap have been, and continue to be, focused on increasing the proportion of female employees at senior levels of the organisation. This requires a strong pipeline of talent, which means increasing female representation at all levels.

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Transcription of UK Pay Gaps 2021

1 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures Contents Inside this document Group Chief Executive's statement 02. UK-wide gender pay gaps 03. UK-wide ethnicity pay gaps 06. Statutory UK gender pay gaps disclosures 08. 01 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures Group Chief Executive's statement UK gender and ethnicity pay gaps 2021. We want to recruit, retain and engage the talent Through our Race at Work Action Plan, we are also that Barclays needs to succeed. Being an inclusive working to address the fact that some ethnicities . organisation is an essential part of that, where are significantly underrepresented at Barclays. We individuals feel confident that they can progress to are focusing our efforts across four areas: increasing senior levels, regardless of their gender , or ethnicity.

2 The number of underrepresented minority employees Being transparent about the underrepresentation of we hire; providing more Black and ethnically diverse I am encouraged by the women and of certain ethnic groups that currently exists, and the pay gaps that result, helps us track colleagues with access to career and development opportunities; creating a culture of allyship across the progress we have already where we are in the pursuit of that goal. It also helps organisation; and being transparent and measuring our made to make Barclays a us think more clearly about the drivers of the outcomes, allowing us to see the impact our actions are more inclusive place to representation and pay gaps, and how we can best having over time. Our Diversity & Inclusion Report sets address them. out this work in more detail. work. There is still more This document discloses Barclays' UK gender pay I am encouraged by the progress we have already made that we can do, and I'm gaps and our ethnicity pay gaps.

3 For the first time, we to make Barclays a more inclusive place to work. There fully committed to making are also separating out the differences in pay between employees who identify as Black, Asian or Multiracial is still more that we can do, and I'm fully committed to making sure we get there. sure we get there. and those who identify as white. This report sets out our UK-wide gender and ethnicity We are continuing to make efforts to close pay gaps pay gaps for the year. I confirm that the information where they exist at Barclays, recognising that this will contained within is accurate. take time. Representation of women in senior roles has been improving, albeit more slowly than I would like to see. We have achieved our global ambition of 28%. female Managing Directors and Directors by the end of 2021, while in the UK 30% of these more-senior roles are currently filled by women.

4 We are working to promote more women into senior roles internally Venkatakrishnan Our Diversity & Inclusion Report 2021 can be and actively identify female talent in the market. Group Chief Executive, Barclays found online at 02 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures UK-wide gender What is the data showing? further decrease to the hourly pay gap but an increase Our gender pay gaps reflect the differences in average to the bonus pay gap more females have had their salary increased whilst their bonus opportunity was pay gaps pay between all males and all females working for Barclays in the UK, without taking into account roles, reduced accordingly. Due to the timing of the reward responsibilities and seniority. We continue to see pay strategy change, the new approach was reflected in gaps in both hourly pay and bonus pay, driven bonus figures for six months of 2019, with the full effect by the differences in seniority between males and only reflected in bonuses for 2020, which are included females in our population.

5 In this year's pay gaps disclosure. Representation of women in senior and other higher Without the change in approach, there would have been paying roles has been improving, but slowly, and our a reduction in the bonus gender pay gaps as well as the pay gaps continue to reflect this. Our current UK hourly gender pay gaps from 2020 to 2021. gender representation is displayed on the next page. Hourly Pay Bonus Pay Changes from 2020. While the UK-wide hourly pay gaps have reduced Receiving bonus Median Mean Median Mean in comparison to 2020, the bonus pay gaps have gender pay gaps increased. This increase is largely due to the reward strategy introduced in our Barclays UK business in July 2019, which increased salary for around 19,500 junior pts pts pts pts employees while making a corresponding reduction on 2020 on 2020 on 2020 on 2020 to bonus opportunity. This change has had a positive Female Male impact on our junior employees.

6 It increased the proportion of their pay that is delivered as salary, and is The hourly pay gap represents the difference in the average ordinary pay per hour for male and female therefore guaranteed and pensionable, and decreased Across our UK population, 96% of all female employees. This includes regular payments of salary and allowances. the portion delivered as bonus, which is variable and employees and of all male employees could be zero. Because the benefitting population has received a bonus payment. The bonus pay gap represents the difference in the average bonus pay for male and female employees. a large proportion of females, this has resulted in a The pay gaps shown above reflect the underrepresentation of females in senior and mid-level roles, as shown on the following page. UK-wide pay quartiles Q4 31% 69% Highest Paid Q3 44% 56%. Q2 64% 36%. Lowest Q1 65% 35% Paid Females Males Pay quartiles are prepared by ordering the population by hourly pay, from lowest to highest, and then dividing it into four equal subpopulations (lower quartile, lower middle quartile, upper middle quartile and upper quartile, also referred to as Q1, Q2, Q3 and Q4) to show how the distribution of males and females varies according to each quartile.

7 03 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures UK-wide gender pay gaps continued Pay gaps and representation Over the last five years, the representation of females Our actions to close the gender pay gap have been, in senior roles in the UK has increased from 24% at Representation by seniority level in the UK1 and continue to be, focused on increasing the the end of 2016 to 30%1 at the end of 2021. Over the proportion of female employees at senior levels of same time period, female headcount in senior roles has the organisation. This requires a strong pipeline of increased by 38% whilst male headcount increased by 2021 representation in the UK talent, which means increasing female representation 1%. In mid-level roles, female representation increased at all levels. Achieving a more equal distribution of from 38% to 39% and female headcount increased Senior 30% 70% males and females across all levels of the organisation, by 20%.

8 And particularly the senior levels, will take time and we These increases are largely driven by actions taken Mid-level 39% 61% know our different businesses are at different stages to actively promote females into more senior roles of this journey. internally and actively identify female talent in the market. Junior 65% 35%. Total 52% 48%. Females Males Change in female representation from 2016 to 2021. Senior Mid-level Junior 1 Figures reflect UK population only and therefore differ from the global figures included in the Diversity & Inclusion Report 2021. Senior roles refer to Director and Managing Director level roles, Mid-level to Assistant Vice President and Vice President level roles and Junior to our Analyst level roles. 04 UK Pay Gaps 2021. Group Chief Executive's statement UK-wide gender pay gaps UK-wide ethnicity pay gaps Statutory UK gender pay gaps disclosures UK-wide gender pay gaps continued Key actions to increase female representation Our actions to close the gender pay gap are focused As a founding signatory of the HM Treasury Women In the UK, 30% of these more senior roles are on increasing the number of female employees at in Finance Charter, a signatory of the Hampton currently filled by women.

9 Senior levels in our organisation. We are making some Alexander Review and a contributor to the Bloomberg We remain focused on continuing to drive change, encouraging progress but overall the rate of change is gender Equality Index, we proactively set gender advocating the gender diversity agenda and building still slower than we would like. Improving the gender targets. In 2018, we set a global target of 28% female an inclusive culture, and are therefore setting a new balance at all levels in our workforce is a key priority representation in senior leadership roles our gender Ambition of 33% female representation in as we seek better to reflect the balance within society Director and Managing Director population by the senior leadership roles by the end of 2025. and the communities that we serve, which we believe end of 2021. As at 31 December 2021, we were at will have a beneficial impact on the organisation.

10 28%, up from 26% in 2020. For more information our Diversity & Inclusion Report 2021 can be found online at 1 2 3 4. annualreport Setting targets gender reporting Monitoring our Actively identifying for individual in business reviews promotion process female talent in business areas and building our the market internal pipeline We have targets for gender We continue to invest in data We want to ensure the widest We work with our recruitment diversity for each of our business and analytics and have developed available pool of talent is partners to identify diverse talent areas, reflecting the differing a gender diversity dashboard. considered for promotion. for our shortlists, actively market environments in which our This includes core metrics for We offer mentoring and identifying external female talent businesses operate. We actively each business area, providing sponsorship programmes and where possible.


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