Gender Pay Gap Report

CP Pharmaceuticals – April 05th 2018

What is the Gender Pay Gap?

As previously indicated, the law requires any company with more than 250 employees to publish its gender pay and bonus gaps.

The Gender Pay Gap is the difference between the mean and median average pay of men and women working for an organisation, expressed as a percentage of men’s earnings. To find the mean average gap, the hourly rates of pay for all female employees is added together and divided by the total number of female employees. The same calculation is done for male employees, and the difference between the resulting figures is the mean gender pay gap. If all the female employees are lined up in order of pay, from the highest to lowest pay, and all male employees are similarly lined up, the median gender pay gap is the difference in hourly pay between the female and the male employee who fall in the middle of those lines.

The gender bonus gap is the difference between mean and median average bonus payments made to women and men, expressed as a percentage of men’s bonus earnings.

Gender pay is not the same as equal pay. Whilst both equal pay and the gender pay gap deal with the potential disparity of pay women receive in the workplace, they are two different issues:

  • Equal pay deals with the pay differences between men and women carrying out the same jobs, similar jobs or work of equal value.
  • The gender pay gap is a measure of the difference between men’s and women’s average earnings across an organisation or the labour market. It is expressed as a percentage of men’s earnings.

According to the Office of National Statistics, in Britain there is an overall gender pay gap of 17.9% (as at April 2018), which has reduced by 0.2% since 2017.

Gender Pay Gap

This data includes all 329 permanent and temporary employees who were in receipt of full pay in the pay period spanning 5 April 2018, and shows the difference between the average hourly rate of male and female employees as at the snap shot date of 5 April 2018.

We are pleased to report that our gender pay gap is 11 % (median), which is a reduction of 10% based on 2017 figures.

Pay period April 05th 2017                          

Mean                   Median

35.9%                   21%

Pay period April 05th 2018                          

Mean                   Median

29.1%                   11%

Pay Quartiles

This includes all permanent and temporary employees as at 5th April 2018, who received full pay in the relevant pay period spanning that date, and shows the percentage of male and female employees in each quartile. We have also included the quartile figures for 2017.

Median Gender by Quartile        

 

Men

Women

Men

Women

Number in quartile

 

2017

2018

2017

2018

Top quartile

74.4%

25.6%

72%

28%

79

82

Upper middle quartile

45.6%

54.4%

47%

53%

78

83

Middle quartile

38.5%

61.5%

39%

61%

79

82

Lower quartile

48.1%

51.9%

45.1%

54.9%

78

82

                                                                  

Gender Bonus Pay Gap

This includes all permanent employees as at 5th April 2018 and shows the difference between the bonuses paid to male and female employees in the year 6 April 2017 to 5 April 2018.

Proportion receiving bonus                                      

              Men                               Women

2017      9.9%                             2%

2018      8.4%                             2.5%     

            Mean Bonus Gap           Median Bonus Gap

2017      23.5%                            6.5%     

2018      12.3%                            30.5%

Understanding the Gap?

The analysis of our Gender pay and bonus gap figures this year tells us that, rather than being driven by a pay issue, our pay and bonus gaps continue to be driven by the structure of our work force. The Company still has more men than women in senior positions attracting higher pay grades and eligibility for bonus’. This is a common issue in workplaces generally as reported by The European commissions (2017) 2017 report on equality between men and women in the EU but, as demonstrated by our figures, and in comparison to other UK businesses, it is a position that is steadily improving at CP Pharmaceuticals.

The company also has departments that are typically male dominated, like engineering where women are traditionally underrepresented, we are working at addressing this by increasing our involvement with STEM projects in our local communities that involves both males and females. While this is slowly changing, the Wise Campaigns studies on The STEM Education Pipeline 2017 and the Engineering UK 2018 report “The State of Engineering” both tell us that there are still fewer women than men studying the STEM subjects (science, engineering, technology and maths) at school and university, resulting in fewer applications from women than men for these roles.

How CP Pharmaceuticals is addressing the Gender Pay Gap

Keep doing the right things

Progress has been made to start closing the gap throughout 2018 and we are pleased with the results. By analysing our recruitment statistics, we are able to see that we have recruited more women than men into the company.  The company has also conducted a pilot of flexi time working, which has been successful.

We are pleased with the results that we have achieved to date, as a company we will also continue our efforts to develop more female managers so that they have roles that are eligible for bonus pay by continually striving for insight into any barriers which may exist and addressing them where needed. Having taken steps to encourage more females into senior roles by having an active flexible working policy in place we will continue our efforts by supporting our colleagues with additional training and development.

Many of our employees have been with the company for a long time; this is shown year after year with our long service awards, with the average length of service at 11 years.  Our clear Mission, Vision and Values statement, the Investors in People silver award and our silver award in corporate health show CP Pharmaceuticals is an employer of choice.

Click here to see our Mission, Vision and Values

CP Pharmaceutical’s is an equal opportunities employer and is totally committed to equality of opportunity and diversity at all stages of the employee lifecycle. We employ the right people to fill our roles, regardless of sex, age, race, religion, disability, sexual orientation, ethnic origin, gender reassignment or marital status. We know that by continuing to adopt this approach we will succeed in driving down the gender pay gap.

 Our action plan

The company has different areas in the business that have historically attracted a higher proportion of females or males. We have been pro-actively examining the drivers behind this and the barriers to female progression, which will help us to see where and how we can effect change. The recruitment and selection processes and exit interviews will continue to be reviewed to understand why we attract or retain fewer female senior leaders than male, and the company will then look to action the findings.

I can confirm the information and data reported is accurate as of the snap shot date 5th April 2018.

 Ravi Limaye Signature