Gender Pay Gap

UK Data

WHAT IS THE GENDER PAY GAP?

  • Gender pay gap and equal pay legislation deal with the disparity of pay women receive in the workplace
  • Equal pay legislation deals with the pay differences between men and women within an organisation who carry out the same jobs, similar jobs or work of equal value
  • The gender pay gap is a broader measure of the difference in the average earnings of men and women regardless of the nature of their work across an organisation. It is expressed as a percentage of men’s earnings: where there are more men at the senior level, the average male salary is higher than the average female salary 
  • Efficio analyses equal pay every six months and does not have unequal pay but we do have a gender pay gap


The mean gender pay gap in Efficio is 30%, which has been improving over the last three years having increased from 21% in 2020; this pay gap reflects the high representation of men in senior positions.

 

Our pay structures are linked to seniority and performance, meaning that bonuses have an equal impact on the pay gap as the base salary. Our internal pay analysis shows that we award bonuses to an equal proportion of women and men and pay the same level of bonus to men and women at the same grade.  However, at senior levels, bonus accounts for a greater portion of total compensation, so the impact of having a smaller portion of women in our senior team is greater when we look at bonus pay: the mean bonus of female employees is 36% lower than that of their male colleagues (vs 31% in 2021). The Covid-19 pandemic negatively impacted the bonuses paid out in 2020 due to uncertainties in relation to the pandemic.

The median gender pay gap salary this year is 25% and bonus is 31%. At any employer, half of the staff will earn more than the median salary and half will earn less. As there are generally fewer women in higher paying positions than men, the gender pay gap as measured by mean earnings is often higher than for median earnings. As a result, we use the median as a key measure because it is a more representative when there is a skewed distribution of pay due to a minority of highly paid individuals: the median calculation is closest to the experience of the typical man and typical woman at Efficio. 
The gap between the mid-point of the salary ranges between men and women is improving, primarily due to the small but ongoing increase in the number of women we have in middle management (the upper middle quartile below).
 

The proportion of Efficio employees in each quartile pay band is:
 

Activities and Plans

As a growing business, hiring across all our jurisdictions, we have the opportunity to change the gender composition of our workforce more quickly than would a static business, but we face challenges. Management consulting, like many professional services, has a reputation for not retaining women through various phases of life, which leads to the gender pay gap we see across our industry in the UK and globally. 

The recruitment and retention of women in senior roles remain the main focus of our core gender diversity plan. We have been adapting our recruitment tactics to focus on senior women such as proactively sourcing candidates, providing an effective mentorship programme and certifying that we have the right and necessary support mechanisms and culture to ensure flexible work is sustainable and successful. As we establish new customs in the flexible world of work, this will support to progress our capability to attract and retain women who wish to reach their personal and professional goals.

Our Diversity & Inclusion Steerco continues to develop and maintain company-wide focus on this important issue and to get input into initiatives to become a more gender-balanced organisation. 
As a growing business, hiring across all our jurisdictions, we have the opportunity to change the gender composition of our workforce more quickly than would a static business, but we face challenges. Management consulting, like many professional services, has a reputation for not retaining women through various phases of life, which leads to the gender pay gap we see across our industry in the UK and globally. 

The recruitment and retention of women in senior roles remain the main focus of our core gender diversity plan. We have been adapting our recruitment tactics to focus on senior women such as proactively sourcing candidates, providing an effective mentorship programme and certifying that we have the right and necessary support mechanisms and culture to ensure flexible work is sustainable and successful. As we establish new customs in the flexible world of work, this will support to progress our capability to attract and retain women who wish to reach their personal and professional goals.

Our Diversity & Inclusion Steerco continues to develop and maintain company-wide focus on this important issue and to get input into initiatives to become a more gender-balanced organisation. 

To drive an inclusive culture requires inclusive leaders and therefore we have asked our leadership team to commit to diversity and inclusion goals to highlight that this is a key business priority. One of our goals is to improve the balance of women and other diverse constituents in our Principal, Director and Vice President groups, where we are already making headway: in March 2021, women comprised 11% of our global leadership team; in March 2022, that figure is now 20%. 

We have identified several collective priorities to continue to improve our gender balance: 

  •  Attracting diverse talent: continually evolving our approach and opening recruitment channels to a wide range of universities, whilst ensuring that our hiring process is cognizant of diversity and inclusion 
  • Developing and retaining diverse talent – by intentionally embedding D&I into Efficio’s HR strategy and regional development plans
  • Building D&I into our working practices – examining regional employee value propositions regarding relevant employee benefits, e.g. parental leave, and supporting our staffing team and project leadership to normalise working practices that support people at different stages of life and career

We will continue to focus on addressing the activities which are vital to bring about the stable, applicable, and continuous transformation that is necessary to close our gender pay gap. This is an ongoing commitment actively supported by the Board.