Gender Pay Gap Reporting Statement
From April 2017, all organisations that employ over 250 employees are required to report annually on their gender pay gap. The gender pay gap is defined as the difference in average earnings between men and women over a standard time period, regardless of the seniority of their role.
Gender pay reporting
The following results, in line with mandatory requirements, have been calculated as at April 2017.
1) Hourly fixed pay
This gap is driven largely by those employees based at our head office, where there are more men in senior positions. When viewed on the basis of our shop-based staff, the gap drops to a mean of 7%, and to 1% when managers are removed. Differences are also driven by longer serving members of staff, with a lower gap reported for staff employed within the last 2 years.
2) Bonus pay
The bonus gap is calculated on bonuses paid during the last 12 months running up to the snapshot date. The Mean gap of 91.6% is a result of bonus payments to board directors made in 2016, as previously reported in the annual accounts. A more representative measure is that excluding the director bonus payments:
A key factor in the greater variance in mean and median bonus pay than in hourly pay is the fact that the bonus was paid as a flat percentage of the absolute amount of pay. At Head Office, we employ more senior men than women and had a Mean gap of 14.1% and Median gap of 7.2%. In the stores, our female colleagues are more likely to work part-time and a higher proportion (21% vs 14% for men) had less than one year’s service at the qualifying date. In the shops, the Mean gap was 23.4% and the Median gap was 28.3%.
3) Employees receiving bonus
75.9% of men and 66.7% of women received a bonus. This is driven by a greater percentage of women who joined the company after the bonus qualification date.
4) Pay quartiles
|Upper middle quartile|
|Lower middle quartile|
The above illustrates the gender distribution across Waterstones in four equally sized quartiles.
I confirm that the reported data is accurate and that we are committed to reducing our gender pay gap.