At the end of the 2016/17 financial year there was:
- One female non-executive director (12.5 per cent of the Board)
- One female executive leadership team member (12.5 per cent of the team)
Approximately 27 per cent of the workforce and 18 per cent of managerial grade employees are female (see tables below)
|Employees by Gender (as at 25 March 2017)|
|Senior Managers by Gender (as at 25 March 2017)|
|Directors by Gender (as at 25 March 2017)|
De La Rue Gender Pay Gap Report 2017
De La Rue’s gender pay gap statistics are shown in this report. These statistics are drawn from data referencing a “snapshot” date of 5th April 2017. The gender pay gap looks at UK based jobs at all levels (this is not the same as equal pay which is concerned with addressing pay issues of men and women performing the same or similar work). We are required by legislation to report only on employing entities with more than 250 employees. For De La Rue, this requires us to reference the 1872 UK based employees who were part of the entity known as De La Rue International Limited, as at the “snapshot date”.
Understanding De La Rue’s Gender Pay Gap
The gender pay gap of 10.04% (mean) or 9.74% (median) is less than the UK figure of 17.4% (ONS provisional mean) or 18.4% (ONS provisional median, October 2017). As part of our Inclusion and Diversity Strategy De La Rue has a long-term commitment to eliminate this gap.
Analysis has shown that our pay gap predominantly exists because women are underrepresented in senior roles. Likewise, the bonus gap of 42.91% (mean) or 45.74% (median) is driven by a lower proportion of women in roles that are eligible for a bonus, relative to the higher proportion of men in more senior roles that attract higher salaries and bonus opportunities.
In support of our commitment to address these gaps, this year we have appointed an Executive Leadership Team sponsor to: champion inclusion and diversity; improve our maternity and paternity provisions; introduce unconscious bias development to our managers and employee representatives and improve the flexibility of our working practices. As a first stage, we have also set a target with associated actions to increase the number of women within our leadership group to a level in line with our overall UK employee male/female ratio of 75/25% by 2020.
We recognise that there are wider UK social and cultural influences at play and like other organisations, De La Rue understands that there is no easy or quick solution to eliminate the gap.
We can confirm that the data published in this report satisfies the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
Martin Sutherland, CEO – January 2018