What is the Gender Pay Gap?
The gender pay gap sometimes gets confused with equal pay, where companies have been required to pay all employees the same level of pay for the same work since the introduction of the 1970 Equal Pay Act.
The gender pay gap is the difference between the overall remuneration for men and women.
Gender Pay Gap Reporting
On 6th April 2017, the UK Government introduced the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, with the aim of bridging that gap. The regulations require businesses with 250 employees or more to publish a report each year which provides specific information about their gender pay gap, which shows the differences between the average pay and bonuses paid to male and female employees.
Who Works at Draper Tools?
Of course, in any company, a gender pay gap will occur if the top jobs are held by male members of staff, despite paying male and female employees the same amount for similar roles. At Draper Tools, all our current Board members are male, something which is possibly to be expected in what tends to be a male orientated industry.
However, the Company prides itself in following a well-developed, fair recruitment process and in providing the same training and development opportunities to both its male and female employees.
The Draper Tools Limited Gender Pay Gap Report
Draper Tools Limited have submitted their latest report to the government online.
The gender pay and bonus gap are based on a snapshot taken in March 2020. When reviewing these figures, it is important to recognise that Draper Tools Limited follows a common theme seen across the UK work force, in that:
- A higher proportion of men work in more senior, higher paid roles
- A higher proportion of women work in more junior, lower paid roles
- More women work part-time than men.
What Improvements/Initiatives are under way?
Draper Tools want to be an ‘employer of choice’ and are committed to creating an environment where all our employees can achieve their professional goals. We have already introduced several new initiatives that support that commitment:
- The Company is investing significantly in leadership development training for the middle management team and the Board. We aim to continue that investment with newly appointed middle and senior managers.
- A number of middle and junior managers are looking to gain formal qualifications in management.
- Apprenticeships are being delivered in some areas of our business.
- A new appraisal system has been rolled out across the organisation, focusing on development of our employees. Training needs are being extracted from those appraisals.
- We have already commenced work on introducing meaningful salary structures into the business and further work is planned in this area.