wuk06/21 June 2021
CP Pharmaceuticals – April 5th 2021
What is the Gender Pay Gap?
Gender Pay Gap Report 2021
The gender pay gap measures the difference between the mean and median pay rates and bonus payments of women versus men across an organisation, shown by the percentage men earn more than women.
Gender pay gap reporting is a requirement for all employers of 250+ employees, using an annual snapshot date of 5th April.
What is Measured?
The mean gender pay gap measures the difference between the average hourly rates of pay as a percentage.
The gender bonus gap measures the difference in the average bonus payments as a percentage.
For the median measure, this ranks our female and male employees in order from lowest to highest rates of pay and bonus pay, and then looks at the middle colleagues in those lines. The gap is then the difference between those pay rates as a percentage.
We’ve used the calculations set out in the reporting regulations and taken pay data from our 393 permanent and temporary employees who were in receipt of full pay in the pay period in which the snapshot date of 5th April 2021 fell. This includes a wide range of roles and rates of pay.
Under the legislative guidelines we include Ordinary Pay i.e., basic pay, as well as pay for annual leave, shift pay and allowances. It doesn’t include overtime, redundancy/termination payments; back pay, pay in lieu or statutory pay. We also have removed any salary sacrifice deductions.
Gender Pay Gap
|Mean Gender Pay Gap||27.43%|
|Median Gender Pay Gap||9%|
Gender Bonus Pay Gap
Gender Bonus Pay Gap
|Proportion receiving bonus||6.1%||7.7%|
Understanding the Gap?
The analysis of our Gender Pay and Bonus Gap figures for 2021 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 although the gap is closing year on year.
The Company also has departments that are typically underrepresented by females, such as Engineering. We are working to address this by increasing our involvement in STEM projects in our local communities that involve both males and females.
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
Some progress has been made to start closing the gap 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 for 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. We will continue our efforts having taken steps to encourage more females into senior roles by having an active flexible working policy in place and supporting with learning and development.
Many of our employees have long service with the company; this is evident from our annual long service celebrations, with the average length of service being 12 years. Our clear Mission, Vision and Values statement, the Investors in People Silver Award and our Silver Status for the Corporate Health Standard are evidence that CP Pharmaceuticals is an employer of choice.
CP Pharmaceuticals 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 snapshot date of 5th April 2021.
Signed by the Managing Director