JM posts reduction in Gender Pay Gap in third report
- JM’s UK gender pay gap is 6.0%, down from 8.5% in 2018
- JM’s gap compares well to the UK average of 17.3%
- JM is committed to eliminating its gender pay gap – actions continue.
JM’s third Gender Pay Gap Report shows that, across all our employees in the UK, our median gender pay gap is 6.0%. Our figures compare favourably to the average median pay gap for all UK companies, published by the Office for National Statistics, of 17.3%.
The gender pay gap is the difference between the average hourly pay rate of all men and all women in an organisation. This is different to equal pay, which is about paying men and women the same pay for equivalent work. JM is committed to being a meritocracy where men and women with the same performance and experience doing equivalent work are paid equally, and our pay policies and practices are designed to enable this to happen.
Representation in the UK
The number of women employed by JM in the UK is 26%. JM has exceeded the Hampton-Alexander FTSE 100 target of 33% of Women on Boards with 40% of our board being women. In addition, 33% of our Group Management Committee, 28% of our senior management group and 29% of our other management roles are occupied by women.
Why we have a gap
We continue to work to address the gender pay gap at JM and are making good progress, however there is more work to be done. Our gender pay gap reflects broader issues that are also evident in the wider economy, including:
- A lower number of women in our science, technology and engineering roles. With only 24% of UK graduates studying science, technology, engineering and maths (STEM) subjects being women, it is challenging to recruit more women into our technical roles.
- A large number of our manufacturing roles are held by men, which is consistent with the demographics in the wider economy. Also, these roles sometimes present ‘unfavourable’ shift patterns that require employees to work less sociable hours and attract a shift allowance; women are less likely than men to work these shift patterns.
How we are closing the gap
We are making good progress with the gender pay gap as we continue to focus on a number of key areas to achieve a truly inclusive culture. For example, we are:
- Focusing on gender to accelerate our Diversity and Inclusion agenda.
- Implementing internal guidance on gender balance targets to significantly increase female occupancy of roles by the end of 2025. This focus enabled an increase to 23 from 75 in our Equileap ranking.
- Providing training and development, including educating our people in the areas of diversity, inclusion and unconscious bias.
- Identifying opportunities to develop talent in our female middle management population. We have also developed a programme to remove some of the barriers that our female employees may experience when trying to develop their careers and increase their chances of being considered for more senior roles in the organisation.
- Embedding diversity and inclusion into our induction processes and our leadership development programmes.
- Continuing to use gender neutral recruitment practices, using job adverts with gender neutral language and diverse candidate shortlists.
We know that it will take time for there to be meaningful change; we are committed to building a more inclusive and diverse environment so that Johnson Matthey is further representative of the world in which we operate.
Find out more about our gender pay gap, the drivers for it, and some of the key areas JM is focusing on to eliminate our gap by downloading our full Gender Pay Gap Report below.