This is our sixth year of publishing our gender pay gap statistics and, although Renold Power Transmission Limited (RPTL) no longer has sufficient employee numbers for mandatory gender pay reporting, we have, as an employer, voluntarily reported our gender pay gap data for this reporting period.
What is the Gender Pay Gap?
The Gender Pay Gap focuses on the differences in pay and bonus between women and men working within RPTL. It includes the whole workforce from most junior to most senior, and takes no account of whether people perform the same or comparable work. RPTL is confident that its gender pay gap does not stem from paying men and women differently for the same or equivalent work. Rather our gender pay gap is the result of the roles in which men and women work within the business and the salaries that those roles attract.
Our Gender Pay Statistics:
The below table shows RPTL’S Gender Pay Gap with the figures based on hourly rates of pay as at 5th April 2022.
|
MEAN |
MEDIAN |
| RPTL PAY GAP |
18.9% |
8.8% |
Our overall mean gender pay gap for employees has reduced from 24.2% to 18.9%. Our median gender pay gap of 8.8%, versus the Office of National Statistics (ONS) national median of 14.9%, reflects our overall reduction of women in the lower pay quartiles and an increase in the proportion of women in the top pay quartile. These statistics are subject to year on year fluctuations but we are encouraged that the pay gap is narrowing.
The population of RPTL remains more male dominated (88%) than female (12%). This imbalance can be linked to the manufacturing sector and it’s historical profile of males who have opted for a career in engineering/ manufacturing.
Our Gender Bonus Gap:
Although there is a larger proportion of males to females within our business, similarly to last year, a larger proportion of these women received a bonus in 2021/2022.
13% of men in RPTL received a bonus
28.6% of women in RPTL received a bonus
Despite the above, a significant Gender Bonus Gap still exists between men and women in RPTL. Our mean bonus gap continues to be strongly influenced by the greater proportion of men than women occupying senior leadership and commercial roles that include bonus pay. Additionally, the majority of our bonus schemes are paid as a percentage of salary, so higher earners (predominately male) receive a greater bonus.
|
MEAN |
MEDIAN |
| RPTL BONUS GAP |
72.4% |
0.0% |
Summary of Results:
Despite our largely male-dominated workforce, the slight narrowing of our gender pay gap is an ongoing reflection of a small but gradually increasing number of women occupying senior leadership roles in RPTL. Despite these positive improvements, there still remains a marked gender pay gap. Our results are broadly reflective of comparators in our industry sector which continues to face challenges in attracting women. We remain committed to building a strong pipeline of female talent and ensure we can attract female talent to our business so we may continue to drive our numbers in a positive direction.
Our data is influenced by a small population in the reporting group, which we have noticed amplifies any differentials occurring within our business. Small movements of employees within this population can have significant impact on the reported data and this has the potential to mask any emerging trends. We are confident that our gap arises because of the unequal distribution of men and women across the company, not because of our pay policies and practices.
