Gender Pay Gap Report 2018

Today JM publishes its second Gender Pay Gap Report, which shows that across all our employees in the UK our median gender pay gap is 8.5%. Our figures compare favourably to the average median pay gap for all UK companies, published by the Office for National Statistics, of 17.9%.

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 25%. JM is ranked 31st in the Hampton-Alexander FTSE 100 ranking for Women on Boards with 33% of our board being women. In addition, 38% of our Group Management Committee, 23% of our senior management group and 30% of our other management roles are occupied by women.

 

Why we have a gap

We continue to make progress on addressing our gender balance across JM, but realise 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. In particular, shift patterns requiring employees to work less sociable hours and attract a shift allowance, and women are less likely than men to work these shift patterns.
  
  

How we are closing the gap

We recognise that it will take us some time to tackle the root causes of our gender imbalance and for JM to achieve equal participation of women and men in all areas of work and at all levels and in all locations.

As part of our sustainable business programme, we have set a goal to foster a truly inclusive culture by 2025. To support our achievement of this goal, we launched our diversity and inclusion plan in May 2018. This plan has five elements.

• Training and development, including educating our people in the areas of diversity, inclusion and unconscious bias.
• Company standards, such as policies that support diversity and inclusion, and building our global data capabilities to better enable our progress and decision making.
• Recruitment and talent management, including gender neutral recruitment practices and active management of careers and succession plans to ensure balanced talent pipelines.
• Flexible working and minimum standard parental leave.

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 reading our full Gender Pay Gap Report.

We know that it will take time for there to be meaningful change; we are making progress and are committed to bringing about change and building an inclusive and diverse environment so that Johnson Matthey is more representative of the world in which we operate.