Gender Pay Gap Report 2024

The gender pay gap is the difference between the average pay of men and women, expressed as a percentage. The gap is calculated across the entire workforce of an organisation and is based on a “snapshot” date of 5th April 2024.

The gender pay gap has many contributing factors which will differ from organisation to organisation, across sectors and across geographical locations. These factors may or may not be unlawful or discriminatory, guided by society or cultural aspects, or as a result of internal organisational practices.

It’s important to recognise that the gender pay gap is different to equal pay. Equal pay is where there is a discriminatory pay difference between men and women who carry out the same job, jobs rated as equivalent or work of equal value.

The existence of a gender pay gap does not automatically give rise to any discrimination or equal pay matters.

All companies with 250 or more employees must report on their Gender Pay Gaps every year, outlining average pay information for men and women.

Our Gender Pay Gap

We had 298 males employed by us on 5th April 2024, and 250 females. This is a split of 66.5% to 33.5%.

The gender pay gap in the UK in 2023 was 7.7%

We are pleased to report that our mean gender pay gap for 2023 is -1.4%. This minus figure is due to our females earning an average (mean) hourly pay which is higher than our males by 18p.

Our Pay Quartiles

Pay quartiles are an important tool to show where we need improve our gender balance. The graphs below show the gender split when we divide our workforce by hourly rates of pay and group them into four equal quartiles for 2023 and 2022.

We now have a higher percentage of females working in higher paid roles and have decreased the percentage of females in lower paid roles since 2022. This is a positive result and a reflection of our focus to recruit more women within our upper and lower quartiles.

Bonus Gap

In the 12 months leading up to the 5th April 2024, 8.3% of our people received a bonus. Of these, 8.7% were male and 7% female.

Our mean bonus gap is -19.7% and our median bonus gap is -17%. This is a substantial, positive shift from 2023.

The Future

Whilst we are delighted with our progress made towards closing our mean gender pay gap, we plan to continue our focus on our Employer Values. We remain committed to developing, maintaining and supporting a culture of equality and diversity in employment at Fazenda in which all our people are treated equitably, and where they can realise their potential.