Investors
Gender Pay Gap Report 2021
We continue to increase efforts to grow a diverse team and inclusive culture where different characteristics and backgrounds come together in pursuit of our purpose.
Our lead figures for this year’s Gender Pay Gap report (UK) are a median pay gap of 20.8% and a mean pay gap of 27.4%, representing a reduction of 6.1% and 0.6%, respectively. Our mean bonus gap has also reduced by 6.3% to 62.0% and our median bonus gap has increased to 72.3%. These figures are based on pay information from April 2021.
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Whilst the reduction in our overall pay gap figures is encouraging, we know that we still have too few women in our most senior positions. We remain committed to recruit and bring women through our organisation into our most senior positions.
Last year, we set out a range of new actions aimed at achieving greater gender balance at all levels of our organisation, building on the progress made to that point.
Since then we have implemented Diversity & Inclusion targets linked to our senior team’s bonus plan and established functional targets to create greater gender balance. As part of our commitment to fair pay, we have completed a global Equal Pay Audit (EPA) with external partners KPMG and have committed to revisiting it annually. Results from the EPA positively validated our approach to fair pay, with no roles requiring remedial action.
We have achieved our target of having at least two women on every shortlist for 71% of roles recruited over the year and increasingly have gender mixed interview panels. Gender neutral recruitment advertisements have been employed globally using software designed to filter out unconscious bias from our job descriptions. We have implemented mandatory Recruiting for Growth training for all hiring managers further embedding our objective, inclusive and consistent approach to recruitment.
Our accelerated growth leadership development programme, aimed at embedding a scientific approach to measuring potential, is now comprised of 57% women. Diversity & Inclusion and unconscious bias training has been rolled out to our global leadership team.
We have also recruited a Head of Diversity & Inclusion to drive further progress in this area and report on Diversity & Inclusion regularly to Executive teams.
Ultimately, changing our gender imbalance will not be immediate but we believe that the initiatives we have implemented so far, and the new actions we have committed to this year, will stimulate measurable and sustainable change over the long term.
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Discovery Drive, Cambridge
Biomedical Campus,
Cambridge, CB2 0AX, UK
+44 (0) 1223 696 000
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