Under the UK Government’s new Gender Pay Gap Regulations, employers in the UK with over 250 employees must report their gender pay gap. Tracsis has published its gender pay gap information under these regulations. The gender pay gap shows the difference in the average earnings of men and women across an organisation regardless of their roles or industry sectors. The statistics can be affected by a range of factors, including the different number of men and women across all roles across the workforce. The gender pay gap is different from equal pay, which is about men and women receiving equal pay for the same jobs, similar jobs or work of equal value.
Under the methodology set out in the regulations, Tracsis’s median gender pay gap is 16% and its mean gender pay gap is 24%. The mean gender bonus gap is 31% and its median gender bonus gap is 38%. The percentage of staff receiving a bonus was 65% for men and 64% for women.
The Gender population by pay quartile is as follows:
Due to the nature of the industry that the Group operates in and the activities that it performs, Tracsis’ gender pay gap is due to the fact that men hold the most senior, higher paid positions and as a result, there are more men than women in senior roles. However, in recent years, Tracsis has made significant progress with two of the most senior roles in the Group’s Operations & Planning Division being held by women, and the Group’s PLC board of Directors also includes two women, representing one third of the overall Board.
With regards to equal pay, Tracsis confirms that men and women receive equal pay for the same jobs, similar jobs or work of equal value.